Bank of England announces more market support measures

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The Bank of England on Monday said it was launching a temporary facility aimed at easing liquidity pressures that arose after the UK government’s budget shocked markets.

The BoE “announces additional measures to support market functioning”, said a statement, adding that the central bank was ready to increase the size of its UK government bond purchases under an emergency measure due to end Friday.

The BoE said it is launching a Temporary Expanded Collateral Repo Facility, enabling “banks to help to ease liquidity pressures facing” client funds beyond the end of this week.—AFP

 

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