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Key Parts of Bank's Statement Concerning Balance Sheet:

BOE
  • "These purchases will be strictly time limited. They are intended to tackle a specific problem in the long-dated government bond market. Auctions will take place from today until 14 October. The purchases will be unwound in a smooth and orderly fashion once risks to market functioning are judged to have subsided."
  • "The MPC’s annual target of an £80bn stock reduction is unaffected and unchanged."
  • "Bank’s Executive has postponed the beginning of gilt sale operations that were due to commence next week. The first gilt sale operations will take place on 31 October and proceed thereafter."
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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