Bank of England gets solid demand at 750 million pound bond sale

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Updated: Nov 28, 2022, 15:21 GMT+00:00

LONDON (Reuters) - The Bank of England said it received bids totalling 2.39 times the 750 million pounds ($903.75 million) of gilts with a maturity of 7-20 years which it sold at auction on Monday.

People walk outside the Bank of England in London

LONDON (Reuters) – The Bank of England said it received bids totalling 2.39 times the 750 million pounds ($903.75 million) of gilts with a maturity of 7-20 years which it sold at auction on Monday.

This represents stronger demand than at the BoE’s last gilt auction on Nov. 24, when it received bids worth 1.92 times the volume of bonds on offer.

British government bond prices were little changed after Monday’s auction result, which was the sixth of eight auctions the BoE is holding in November and December.

($1 = 0.8299 pounds)

(Reporting by David Milliken, Editing by Kylie MacLellan)

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