LONDON ((MNI) – The Bank Of England said Wednesday it was offering
an unlimited supply of U.S. dollars in both 7-day and 84-day repo
operations.
The settlement date on the 7-day op was Dec 8 maturing December 15
2011. The Bank said the repo would be at a fixed-rate, with the rate to
be set at 0.58%.
The settlement date for the 84-day operation was December 8,
maturing on March 1. The Bank said the repo would be at a fixed-rate,
with the rate to be set at 0.59%.
The ops were the first operations to be conducted under the new
cheaper interest rate policy announced by 6 central banks last week,
when the rate charged by the Federal Reserve for dollar borrowing was
reduced from 100 bps to 50 bps.
–London Bureau; Tel: +442076341655; email: ukeditorial@marketnews.com
[TOPICS: M$B$$$,M$$BE$]
