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MNI BRIEF: BOE Gilt Buys To Slow, Not Policy Move, Total Unch

LONDON (MNI)

The Bank of England will slow its weekly purchases of UK Gilts but the total to be bought will remain unchanged at GBP875 billion, the Monetary Policy Committee said Thursday, with the move having no monetary policy impact.

"The latest announced programme of GBP150 billion in purchases started in January and its completion was expected by around the end of 2021," the MPC said in the minutes of the policy statement. As envisaged and consistent with developments in financial markets since then, "the pace of these continuing purchases could now be slowed somewhat. This operational decision should not be interpreted as a change in the stance of monetary policy," the statement added.

The latest planned operations were laid out in a Market Notice accompanying the policy decision.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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