Featured Finance World News

Bank of England extends long-term repo operations as Brexit nears

The Bank of England (BoE) said on Tuesday it would extend its weekly indexed long-term repo operations longer than previously planned to ensure commercial banks continue to have adequate sterling liquidity.

Britain is due to leave the European Union on Oct. 31, but parliament has called for a delay unless Prime Minister Boris Johnson reaches a new deal with the EU. The weekly long-term repos had previously been due to stop at the end of November.

“This is a precautionary step to provide additional flexibility in the Bank’s provision of liquidity insurance over the coming months,” the BoE said.

 

Related posts

Secure Anchorage Area: Navy, NIMASA intensify security efforts

Meletus EZE 

PenCom inaugurates committee to regulate non-interest pensions

Editor

Hike: Electricity consumers to pay N417.09bn in four months

Our Reporter

No increase in fuel price – FG says

Abisola THOMPSON

Bayelsa Govt. seeks to reacquire OML 46 licence

Abisola THOMPSON

Design informal sector economic policy, says ABCON

Our Reporter