The short-term repo allows banks to borrow money from the BoE – usually for a seven-day period – in exchange for high-quality collateral and is designed by the BoE to keep interbank lending rates close to its policy interest rate.
The highest amount allotted in the repo was 46.743 billion pounds on Oct. 24.
($1 = 0.8033 pounds)
Source: Economy - investing.com
