BoE accepts 2.3754 billion GBP of offers in daily long-dated gilt purchase

The Bank of England (BoE) accepted 2.3754 billion sterling of offers in the daily purchase operation of conventional long-dated gilts, Reuters reported on Wednesday.

The BoE rejected zero offers in the same operation, compared to 47.6 million GBP on Tuesday.

Market reaction

The 2-year UK gilt yield is down more than 2% on a daily basis. Meanwhile, the British pound preserves its strength against its rivals in the second half of the day. As of writing, GBP/USD was trading at 1.1075, where it was up 1% on a daily basis.