Bank meets 40 pct of bids at weekly money auction
LONDON (Reuters) - The Bank of England said on Thursday it had satisfied 40 percent of bids at its weekly open market operation.
The Bank said earlier it would offer 11.01 billion pounds at this week's auction -- the first auction of the new maintenance period.
Thursday's amount does not include the additional five billion pounds which the central bank offered in weekly loans last month.
The Bank said last month that the additional funds would be included only until the end of the maintenance period which finished on Wednesday.
© Thomson Reuters 2009 All rights reserved.
Do banks do "God's work"?
The chief executive of Goldman Sachs, which has attracted widespread media attention over the size of its staff bonuses, believes banks serve a social purpose and are doing "God's work". Blog
UK
US
Business Update: Buffett's big buy