LONDON (Reuters) - The Bank of England said it would start to buy 10 billion pounds worth of sterling corporate bonds via reverse auctions on Sept. 27, as part of the economic stimulus measures it announced last month.
The BoE said it planned to hold three auctions a week initially, and would spread its purchases over 18 months.
Bonds needed to be issued by firms that make a significant contribution to the British economy, and that were not part of the financial services sector, the BoE said.
