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.
