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New APF Schedule

BOE
  • Just a reminder that this week the Bank of England will follow its new asset purchase schedule.
  • Rather than buying across the curve on Tuesday and Thursday, the Bank's purchases will focus on particular maturity buckets.
  • 3-7 year gilts will be purchased on Mondays, 20+ year gilts will be purchased on Tuesdays and 7-20 year gilts will be purchased on Wednesdays.
  • All offers in the competitive auction must be submitted between 14:15-14:45BST with results announced shortly after the auction closes (shortly after 14:45BST).
  • As there will only be one (rather than two) purchases of each maturity bucket each week, the individual operation sizes will rise from GBP1.151bln to GBP1.473bln.

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