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BoE sets minimum bid rates for 40 bln stg repo

Tue, Oct 7 2008, 09:22 GMT
http://www.afxnews.com

LONDON, Oct 7 (Reuters) - The Bank of England on Tuesday set the minimum bid rate at its 40 billion pounds ($70 billion) auction of three-month money at 4.831 percent, for banks using the wider collateral pool now eligible.

The minimum bid rate for bids against delivery of collateral routinely eligible in short-term repos was set at 4.331 percent.

The BoE will announce the results of the money market operation, designed to help ease strains in sterling markets, at or shortly after 0955 GMT. (1 pound = $1.75) Keywords: BOE STERLING/3MONTH OPEN

tf.TFN-Europe_newsdesk@thomson.com

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