Search
  • Inna Ri

Bank of England doubles size of corporate bond purchase program


KEY POINTS


  • The central bank last month increased its bond purchase program by a record 200 billion pounds to a total of 645 billion pounds, to be financed with newly-created money, mainly for British government bonds.

  • Until Thursday, it had not specified the size of planned corporate bond purchases. 

The Bank of England said on Thursday (on April 2) it will double the size of its corporate bond purchase program to at least 20 billion pounds ($24.7 billion), part of a previously announced stimulus package to help the economy during the coronavirus crisis.

″(The BOE) expects to make these purchases at a significantly faster rate than in the 2016 scheme,” the BOE said in a statement.


The central bank last month increased its bond purchase program by a record 200 billion pounds to a total of 645 billion pounds, to be financed with newly-created money, mainly for British government bonds.

Until Thursday, it had not specified the size of planned corporate bond purchases. 

The BOE will begin ramping up its corporate bond purchases through a series of reverse auctions starting on April 7, holding three a week, and it will be able to buy 20 million pounds of any single bond — double the previous amount.

As before, the BOE said it will aim to purchase a “balanced portfolio of bonds across eligible issuers and sectors”, so as not to favor specific companies or sectors of the economy.

The list of eligible bonds, last published in August and intended to include companies that “make a material contribution” to Britain’s economy, will be updated in mid-April.


Bonds issued by banks, building societies and insurers will not be eligible.



CNBC

World Forex Award

PDF guide: https://bit.ly/wfaguide20

WFA materials and security issues: http://bit.ly/wfaguide

FAQ: https://www.worldforexaward.com/

About WFA: https://www.worldforexaward.com/

#forexbrokerawards

#forexaward

#forexawards2019

0 views
Forex Award | World Forex Award |  The Best Forex Broker
  • Forex Award | World Forex Award | Best Forex Broker
  • Forex Award | Forex Brokers Award
  • Forex Award | Forex Brokers Award
  • Forex Award | Forex Brokers Award
  • Forex Award | Forex Brokers Award
  • Forex Award | Forex Brokers Award
  • Forex Award | Forex Brokers Award
  • Forex Award | Forex Brokers Award
  • Forex Award | Forex Brokers Award
  • Forex Award | Forex Brokers Award
  • Forex Award | Forex Brokers Award
  • Forex Award | Forex Brokers Award
  • Forex Award | Forex Brokers Award
Our Address:

World Forex Award NPO

Greater London,

207 Regent Street

Company Number 12065454

Phone:

+448000418941

Contact Us

Cookies 

Cookies are small text files that a web site transfers to a site visitor’s hard disk or browser for added functionality, or for tracking web site usage. We do not use cookies to gather personal information such as a person’s name or e-mail address. In order to measure the effectiveness of our on-line presence, The European Business Award website may use cookies to identify repeat visitors to our site and to determine the path visitors take on our site. Any information gathered by the use of cookies is compiled on an aggregate, anonymous basis.

Use of cookies is an industry standard and many web sites use them. If you do not wish to receive cookies, or want to be notified of when they are placed, you can set your web browser to do so, if your browser so permits.

* Partner companies are those Sponsors and organisations who support the World Forex Award  and also follow in the aims and principles of the Awards - towards creating a more successful European economy.

© 2015-2020 World Forex Award NPO