Bank of England allocates £46.18 billion in first short-term repo of 2025, second-highest ever

The Bank of England announced on Thursday that it had allotted £46.18 billion ($57.49 billion) at its first short-term repo of 2025, the second-highest amount on record.

This is an increase from £38.08 billion allotted at the previous repo on December 19.

The short-term repo, typically for a seven-day period, allows banks to borrow money from the BoE in exchange for high-quality collateral. It is designed to keep interbank lending rates aligned with the BoE's policy interest rate.

The largest allotment in the repo's history was £46.74 billion on October 24.