The experimental series of gilt-edged auctions

Quarterly Bulletin 1988 Q2
Published on 01 June 1988

During 1987/88 the Bank held an experimental series of three auctions of gilt-edged stock covering a part of the Government's funding need. The purpose of the experiment was to assess the usefulness of auctions as a possible addition to the authorities' existing methods of issue: this note reviews the experiment.

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