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Bank of England reaches target for corporate bond purchases

FILE PHOTO: The spread of the coronavirus disease (COVID-19) in London
FILE PHOTO: The spread of the coronavirus disease (COVID-19) in London

LONDON (Reuters) - The Bank of England said on Thursday it had reached its target of at least 20 billion pounds ($25.73 billion) of corporate bond purchases, and would not buy any more until it gives further notice.

BoE data showed the central bank held 19.7 billion pounds of corporate bonds as of Sept. 30.

The BoE expanded its purchases of corporate bonds as part of its stimulus programme to help the British economy through its Brexit shock.

($1 = 0.7772 pounds)

(Writing by William Schomberg, editing by David Milliken)