Investing.com – The Bank of England (BoE) pulled off a successful reverse bond auction on Wednesday after the prior day’s operation was unable to be fully covered.
The BoE managed to buy £1.17 billion ($2.22 billion) of U.K. sovereign bonds with maturities between 2023 and 2030 with a cover ratio 4.71, meaning that it received offers from
investors to sell 4.71 times more debt than the central bank was offering to buy.
On Tuesday, the BoE led an unsuccessful reverse auction, leaving it with a £52 million ($68 million) shortfall.
The bank announced on Wednesday that it would make up that shortfall over the next six months.