fishinggear|创纪录的现金需求令分析师预计 英国央行将在不久后结束量化紧缩

ThursdayFishinggearThe Bank of England's demand for cash jumped to a record £12.2 billion ($15.3 billion), and analysts say a recent series of gains could prompt policymakers to ease their funding positions through the bond market within months.

Deutsche Bank and NatWest Markets believe the Bank of England will choose to end its weekly bond sales later this year, a move that will coincide with interest rate cuts to ease monetary policy.

Currently, banks bid for as much as £800m of bonds every week, draining idle liquidity and requiring them to use the Bank of England's short-term buyback instruments. Demand for cash in the Bank of England's operation has surged for weeks, breaking last week's previous high of £7.6 billion on Thursday, a record.

As a result, short-term money market rates have been pushed up to 5Fishinggear.35%, higher than the Bank of England's benchmark interest rate. Just as the MPC considers loosening policy by cutting interest rates, this will have the effect of tightening funding positions.

"the Bank of England will stop actively selling assets in the fourth quarter." Said Sanjay Raja of Deutsche Bank. "if the MPC starts normalizing interest rates from restrictive levels, then taking the initiative to quantify the impact of tightening will exacerbate the tightening of capital positions, the opposite of the central bank's key monetary policy tools."

Imogen Bachra, head of UK interest rate strategy at NatWest, also believes that the demand for cash in the Bank of England's weekly buyback operations will prompt policymakers to end voluntary bond sales when they vote in September. The Bank of England's current plan is to reduce its Treasury holdings by 100 billion pounds in the year to September.