BoE accepts 1.5460 billion GBP of offers in daily long-dated gilt purchase

The Bank of England (BoE) accepted 1.5460 billion sterling of offers in the daily purchase operation of conventional long-dated gilts, compared to 2.3754 billion sterling on Wednesday, Reuters reported on Thursday.

The BoE rejected 297.2 million sterling of offers in the same operation.

Market reaction

The British pound continues to outperform its major rivals following this outcome. As of writing, the GBP/USD pair was trading at 1.1230, where it was up 1.2% on a daily basis. Meanwhile, the 2-year UK gilt yield was last seen losing 4.65% on the day at 3.82%.