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Bank of England error wipes £13bn off gilt sales

An error by the Bank of England overstated the amount of government bonds it sold by £13.4bn.

A notice of error was posted on the bank’s website explaining that a clerical error led to it stating that £28.2bn of British government bonds had been bought by foreign buyers in February when the actual figure was £14.8bn.

The mishap means that rather than February seeing net purchases of £5.8bn the month actually saw sales of £7.6bn.

“Due to a clerical error occurring while inputting the February value for non-residents’ purchases of gilts, the Bank of England Bankstats publication and Statistical Interactive Database are being revised,” said the notice of error.

The incorrect robust gilt sales data was used as an example of how foreign investors were not wavering on the UK market ahead of the general election.

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