BOE to Press on With Gilt-Buying Plan After Early QE Hiccup

August 10, 2016 11:21 AM

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The central bank said Wednesday it will deal with a 52 million-pound shortfall ($60.8 million) in an operation on Tuesday at a later date as it made no changes to its expanded 60 billion-pound quantitative-easing program. Details of these purchases will be announced when the institution publishes information on the second half of the plan on Nov. 3.

The statement came a day after the BOE failed to buy all the gilts it wanted at a reverse auction -- the first such shortfall since it started QE in 2009 -- as investors proved unwilling to part with their holdings of longer-dated bonds.

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