News Release
Timetable for Bank of England Money Market Operations
27 May 1998
The Bank has today published adjustments to the timetable for its open market operations (OMOs), to take effect from 1 June.
These take into account comments received in response to the Bank’s consultative paper issued on 13 May. Details are contained in the attached paper.
Changes to the Bank’s initial proposals, reflecting comments from market participants, are as follows:
(i) The first round of OMOs will, as at present, take place at 9.45am, not at 10.45am as suggested by the Bank in the consultative paper, immediately following the publication of the forecast liquidity shortage.
(ii) On the day in each month when the Monetary Policy Committee concludes its monthly meeting, the first round of OMOs will take place at 12.15pm, following the announcement of theMPC decision at 12 noon.
(iii) The last revision to the Bank’s forecast will be published at 4.20pm rather than 4.25pm; settlement banks will then have until 4.30pm to apply for funds at the settlement banks facility if it is made available.
Notes to Editors
- These changes reflect minor technical adaptions to the timetable for the Bank of England’s daily open market operations, mainly designed to match the later daily timetable for payments through CHAPS.
- The timetable for the Bank’s operations will now be:
9.45am First round of OMOs 2.30pm Second round of OMOs 3.30pm Final round of OMOs 4.20-4.30pm Settlement bank facility
