British banks showed only modest appetite for six-month sterling funds from the Bank of England at an extra long-term repo operation which the central bank held on Tuesday to meet demand in the run-up to next week’s European Union referendum.
Banks bid for and were allotted 2.455 billion pounds ($3.47 billion) of funds, the lowest volume since February’s regular monthly long-term repo operation.
The BoE has a further repo scheduled for next Tuesday, two days before the June 23 vote, and a further one on the Tuesday after the referendum. ($1 = 0.7074 pounds) (Reporting by David Milliken, editing by Andy Bruce)
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