April 24, 2020 / 11:25 AM / a month ago

Bank of England to buy another 13.5 billion pounds of gilts next week

FILE PHOTO: People wearing masks walk past the Bank of England, as the spread of the coronavirus disease (COVID-19) continues, in London, Britain, March 23, 2020. REUTERS/Toby Melville

LONDON (Reuters) - The Bank of England said it would buy 13.5 billion pounds of British government bonds next week, in line with past weeks, as it proceeds with buying 200 billion pounds of assets to help the economy through the coronavirus pandemic.

The purchases, which form the main part of the BoE’s quantitative easing programme, will be split across nine auctions on Tuesday, Wednesday and Thursday for short-dated, medium- and long-dated bonds.

The BoE said it may review its purchase plans after the UK Debt Management Office announces which gilts it will sell via tender next week.

The BoE does not typically buy gilts that have been sold recently by the DMO.

Reporting by David Milliken; Editing by William Schomberg

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