Bank of England's 7-day repo operation hits record high

⑴ The Bank of England announced on Thursday that it allocated a record approximately £143.1 billion (about $191.8 billion) of 7-day funds in its weekly short-term repo operations.
⑵ This amount is higher than the previous record of around £140.8 billion set last week.
⑶ The Bank of England has been increasingly using short-term repo operations to provide reserves to banks while gradually reducing the stock of government bonds purchased under its quantitative easing program.
⑷ Overall, the scale of repo operations continues to set new records, reflecting the central bank's adjustment in liquidity injection methods into the money market during its balance sheet reduction process. Going forward, attention will be paid to changes in the outstanding repo balance and the transmission of market interest rates.