BoE APF auction meets strong offer

The Bank of England´s reverse auction of £1.17bn of Gilts netted it £5.508bn-worth of offers, for an oversubscription ratio of 4.71.

At Wednesday´s asset purchase facility auction, the BoE purchased Gilts maturing between September 2023 and December 2030.

The bulk of the purchases undertaken by the BoE, £398.6m-worth, were of the 7 September 2025 Gilt, of which £2.625bn were tendered.

BoE also bought back £284.0m-worth of the 7 December, 2030 Gilt, of which investors offered £391.7m.

As of 15:32 BST the yield on the benchmark 10-year Gilt was off by four basis points to 0.545%.