LONDON, Sept. 28 (Xinhua) -- The Bank of England (BoE) on Wednesday announced temporary purchases of long-dated United Kingdom (UK) government bonds "on whatever scale is necessary", in an emergency move to restore orderly market conditions.
Auctions started on Wednesday and will take place on each weekday until Oct. 14. The BoE said it stands ready to purchase conventional gilts with a residual maturity of more than 20 years in the secondary market, initially at a rate of up to 5 billion British pounds (5.4 billion U.S. dollars) per auction.
