Bank of England Allocates Record £40 Billion in Weekly Repo, Reports Reuters

The Bank of England has allocated a record £40.29 billion ($53.02 billion) in seven-day funds during its weekly short-term repurchase agreement, an increase from £36.584 billion the previous week.

Repurchase agreements, or repos, enable banks to temporarily swap their government bonds for cash from the central bank. This mechanism helps maintain market interest rates aligned with the Bank of England’s policy rate.