BoE accepts 1.957 billion GBP of offers in first index-linked gilt purchase

The Bank of England (BoE) accepted 1.957 billion sterling of offers in the first purchase operation of index-linked gilts, Reuters reported on Tuesday.

The BoE rejected 466.9 million sterling of offers in the same operation.

Market reaction

Long-dated UK index-linked gilt yields mostly turned slightly positive on the day with the initial reaction to this development. The British pound, however, seems to be having a difficult time finding demand. As of writing, the GBP/USD pair was trading virtually unchanged on the day at 1.1055.