BoE hits £1.2bn QE target with second gilt purchase attempt

Follows failed attempt last week

The Bank of England has purchased more than £3bn worth of long-dated gilts as part of its latest stimulus package, after failing to meet targets last week.

Investors took advantage of the sharply higher bond prices that followed the central bank's botched attempt last week, allowing the BoE to comfortably meet the £1.17bn worth of bond purchases targeted as part of the most recent quantitative easing programme. The BoE's success spurred a minor sell-off in British government bonds, with yields on benchmark 10-year gilts, rising from a record intraday low of 0.5% on Monday to 0.58%, while 30-year bond yields rose 5bps to 1.32%, according to the Financial Times. Bank of England warned by FCA of property fund outflow risks Last week, pen...