BoE accepts 1.363 billion GBP of offers in daily long-dated gilt purchase

Eren Sengezer FXStreet

The Bank of England (BoE) accepted 1.363 billion sterling of offers in the daily purchase operation of conventional long-dated gilts, Reuters reported on Tuesday.

The BoE rejected 47.6 million GBP of offers in the same operation.

Market reaction

The 2-year UK gilt yield pushed lower with the initial reaction and was last seen losing nearly 2% on the day at 4.26%. Meanwhile, the British pound started to gather strength during the American trading hours. As of writing, the GBP/USD pair was trading near 1.1100, where it was up 0.4% on a daily basis.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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