- Sterling wholesale markets grew further in 1998. Outstanding lending appeared to be little affected by the international financial market turbulence of the second half of the year.
- The gilt repo market consolidated its position as an important form of secured money at the short end of the curve.
- Yields on gilt-edged securities fell in 1998. The amount outstanding fell very slightly.
- The Bank made a number of changes to its open market operations during 1998, building on the reforms of the previous year.
- The gilt strips market had a quiet first year.
Published on 01 March 1999
Other Quarterly Bulletin 1999 Q1 articles
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