Yields stabilise as BoE steps up gilt purchases

BoE purchases of index-linked and conventional gilts now stand at nearly £18bn

Jonathan Stapleton
clock • 1 min read
Yields stabilise as BoE steps up gilt purchases

The Bank of England has ramped up its purchases of UK government bonds - buying a total of £4.684bn of paper in its latest gilt purchase operation auction.

The bank said it had purchased a total of £1.564bn of conventional and £3.120bn of index-linked gilts in today's auction - taking the total amount of bonds it has purchased under its scheme to a total of £17.8bn, comprising of £10.753bn of conventional and £7.047bn of index-linked gilts.

Gilt yields stabilised during the day - with yields on 30-year government debt falling back from 4.806% at the close of yesterday to 4.520% at 3:45pm today.

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