706pubcom| Bank of England: Markets should be prepared for a significant increase in repo operations
Bank of England Governor Bailey said706pubcomAs the central bank reduces reserves to well below current levels706pubcom, the market should be prepared for a significant increase in securities repurchase operations.
The Bank of England accumulated as much as £ 895 billion during its ten-year quantitative easing period (1706pubcomUS$.1 trillion) assets, which are currently being reduced at a rate of approximately £ 100 billion a year.
Bailey said a reserve size of £ 345 billion to £ 490 billion is "a good starting point" for investors.
"Looking ahead, we expect a significant increase in repo operations and the market should continue to be prepared for this," Bailey said in a speech released by the Bank of England on Tuesday.
He said the Bank of England would keep some British government bonds on its balance sheet.
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