Long-term repo set for bigger role in BoE operations
Executive director Victoria Saporta outlines “major change in operating practice”
The Bank of England (BoE) is planning greater use of long-term repurchase operations to set monetary policy as part of an ongoing shake-up of its reserves framework.
Executive director Victoria Saporta said on July 22 that the bank intended to change the calibration of its indexed long-term repo (ILTR) facility so it could be used more widely and provide a more effective means of controlling rates.
The BoE currently only uses ILTR to a limited extent owing to the abundance of reserves in the
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