Banks' demand for BoE dollar loans improves
Thu, Oct 9 2008, 08:35 GMT
http://www.afxnews.com
LONDON, Oct 9 (Reuters) - British banks again failed to take up the full offer of overnight dollar funds from the Bank of England on Thursday, but demand was stronger than at the previous day's auction.
The BoE reported that its daily $10 billion overnight repo was covered 0.99 times, up from 0.86 times on Wednesday.
It said the lowest accepted bid rate at the auction was 1.030 percent, with a weighted average accepted rate of 3.075 percent, versus 1.010 percent and 3.592 respectively on Wednesday.
Britain's central bank has offered overnight dollar funds every day for more than two weeks as part of globally coordinated action to ease strains in money markets.
(Reporting by UK economics team) Keywords: BOE DOLLAR/OVERNIGHT RESULT
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