Thursday, 2 July 2009

BOE To Buy GBP3.5 Billion Gilts Monday, GBP3.0 Billion Wednesday Via APF

Thu, Jul 2 2009, 15:30 GMT

BOE To Buy GBP3.5 Billion Gilts Monday, GBP3.0 Billion Wednesday Via APF

LONDON -(Dow Jones)- The Bank of England said Thursday that it will buy a total of GBP6.5 billion of U.K. government bonds, or gilts, next week via its Asset Purchase Facility.

The BOE will conduct a GBP3.5 billion reverse auction of eligible gilts maturing in the 2020 to 2032 range Monday, with a GBP3 billion operation covering 2015 to 2019 maturities scheduled for Wednesday.

Last month, the BOE's Monetary Policy Committee decided to keep the size of its quantitative easing program - through which it is buying bonds with freshly created central bank money - at GBP125 billion and to leave its key interest rate at 0.5%.

As of last Friday, the BOE had bought GBP99.1 billion of securities through the APF.

-By Nicholas Winning and Laurence Norman, Dow Jones Newswires; +44 207 842 9498;

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(END) Dow Jones Newswires

July 02, 2009 11:30 ET (15:30 GMT)

Copyright 2009 Dow Jones & Company, Inc.

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