LONDON ((MNI) – The Bank Of England said Wednesday it was offering
an unlimited supply of U.S. dollars in 7-day repo operations.
The settlement date on the 7-day op was Dec 15 maturing December 22
2011. The Bank said the repo would be at a fixed-rate, with the rate to
be set at 0.58%.
The ops were the second operations to be conducted under the new
cheaper interest rate policy announced by 6 central banks recently,
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$]