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The Bank of England has started to unwind its QE stockpile
The Bank of England (BoE) has sold a total of £750m of UK government bonds as part of its first auction to reduce its quantitative easing stockpile of gilts today (1 November).
In a statement the central bank said it had received a total of £2.4bn of bids for the assets, accepting £750m of these offers - meaning the cover ratio for the auction was 3.26.
Yields on ten and 25 year gilts remained steady today at 3.484 and 3.757 at 3:30pm.
