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The aftershocks of last week’s convulsive Brexit vote are still reverberating through the market, which were evident yesterday across a variety of mediums and metrics. This was also reflective in the amount of cash demanded following the Bank of England’s (BoE) inaugural liquidity operation after the vote, having undergone a massive swell, according to a recent Bloomberg report.
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In a recent BoE auction of funds in exchange for collateral, UK banks sought £6.3 billion ($8.4 billion), however the BOE had ... (read more)