LONDON: The Bank of England said it received offers totalling 4.47 times the 1.7 billion pounds' worth of the gilts with a maturity between three and 10 years it offered to buy on Monday in a reverse auction.
The BoE said earlier this month that it would buy 75 billion pounds of assets with newly created money over the following four months in reponse to a darkened economic outlook. It bought 200 billion pounds of assets, mostly gilts, in a first round of quantitative easing between March 2009 and February 2010.
The BoE said investors offered it some 7.59 billion pounds worth of gilts.
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