BoE reveals details of ‘repo-led’ operations
Bank to offer more liquidity via longer-term facility but retain “variable price, variable size” format
The Bank of England (BoE) has revealed additional details of its plan to move to a “repo-led” monetary operating framework, as it withdraws liquidity injected during the period of quantitative easing.
“The process of transition has now begun,” executive director Vicky Saporta says in the introduction to a discussion paper on the proposed framework, published today (December 9).
In a speech in July, Saporta outlined the BoE’s plans to increase use of its indexed long-term repurchase (ILTR) facility
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