BoE: Will continue to offer weekly Contingent Term Repo Facility (CTRF) through Apr. 2020

The Bank of England (BoE) announced on Monday that it will continue to offer the Contingent Term Repo Facility (CTRF) on a weekly basis through April 2020, as reported by Reuters.

"Beginning this week, there will also be a 1-month term CTRF operation each week, with the final operation scheduled on May 1," the BoE added and repeated that it stands ready to take additional action if necessary.

Market reaction

The GBP/USD largely ignored this announcement and was last seen trading near 1.2400, where it was down 0.45% on a daily basis.