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- Title
Money market developments since interim reform to the Bank's OMOs.
- Abstract
This article presents information on money market developments since interim reform to the Bank of England's for operations in the sterling money markets in Great Britain. The measures, which took effect on March 14, were as follows: narrowing the interest rate corridor formed by the Bank's current overnight lending and deposit facilities to +/-25 basis points from +/-100 basis points, indexing the rate charged on the two-week reverse reputations undertaken as part of the Bank's daily open market operations to the Bank's official rate, no longer purchasing bills outright in the Bank's open market operations and ceasing to accept newly issued bankers' acceptances as eligible collateral.
- Subjects
UNITED Kingdom; ECONOMIC conditions in Great Britain; MARKET prices; FOREIGN exchange market; CAPITAL market; INTEREST rates; NEGOTIABLE instruments; COLLATERAL security
- Publication
Bank of England Quarterly Bulletin, 2005, Vol 45, Issue 2, p139
- ISSN
0005-5166
- Publication type
Article