BoE: Doubling size of corporate bond purchase programme to at least 20 billion pounds

The Bank of England announced on Thursday that it will increase its corporate bond purchase programme by 10 billion GBP to at least 20 billion GBP.

Additional takeaways

"The BoE expects to make corporate bond purchases at a significantly faster pace than in 2016."

"The BoE increases maximum purchase size per bond to rise to 20 million GBP from 10 million GBP."

"The BoE will undertake reverse auctions starting April 7th."

"Eligible corporate bonds will be based on the eligible list published the last August."

Market reaction

The GBP/USD pair largely ignored this announcement and was last seen trading at 1.2390, adding 0.12% on a daily basis.