Monday July 6, 01:15 PM
BoE says no offers in non-competitive gilt auction
LONDON, July 6 (Reuters) - The Bank of England said it received no offers of gilts in the non-competitive part of Monday's reverse auction, leaving it the full 3.5 billion pounds to buy in the competitive process.
The little-used non-competitive auction process is designed to appeal to institutional investors wishing to sell gilts. They receive the average price the BoE pays in the competitive part of the auction.
The results of the competitive tender will be published shortly after 1345 GMT.
(Reporting by David Milliken) Keywords: BRITAIN BANK/NONCOMPETITIVE
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