BOE Offers Unlit Usd In 7-day Repo At 0.59%

LONDON ((MNI) – The Bank Of England said Wednesday it was offering
an unlimited supply of U.S. dollars in a 7-day operatios.

The settlement date on the 7-day op was Jan 19 maturing Jan 26 2012.
The Bank said the repo would be at a fixed-rate, with the rate to be set
at 0.59%.

The ops are the latest 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$]