Financial institution of England allots second-highest quantity on report at short-term repo

LONDON (Reuters) – The Financial institution of England stated on Thursday it had allotted 46.180 billion kilos ($57.49 billion) at its first short-term repo of 2025, the second-highest quantity on report and up from 38.075 billion kilos at a repo on Dec. 19.

The short-term repo permits banks to borrow cash from the BoE – normally for a seven-day interval – in trade for high-quality collateral and is designed by the BoE to maintain interbank lending charges near its coverage rate of interest.

The very best quantity allotted within the repo was 46.743 billion kilos on Oct. 24.

($1 = 0.8033 kilos)