Update: Bank's CP buying drops to new low
Sales of commercial paper to the Bank of England’s Asset Purchase Facility fell to a new low of £50m for the week to April 2, according to figures released on Friday by the Bank. This comes after the fund reached a low of £76m over the week to March 26. In previous weeks since its inception on 13 February, the facility has bought £345m, £480m, £164m, £561m, and £345m respectively. The fund’s value now stands at £2.016bn. At its inception on February 13, market participants estimated the final value of the facility’s CP aspect would reach between £3bn and £6bn.
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