The Bank of England announced on Monday it completed a sale of £649.9 million worth of United Kingdom government bonds. The British central bank received offers totaling £1.95 billion, meaning that the cover ratio was 3.
Today's auction was the fourth this year that covered gilts with seven to 20 years of residual maturity. The fifth and final auction for medium-dated bonds in the first quarter will be held on March 6. Gilts with three to seven years and bonds with over 20 years of maturity will have also been sold in five auctions each at the end of the first trimester.
The BoE plans to sell a total of £3.25 billion in each of the three sectors in January 2023 to March 2023 period.
