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BoE says to restart dollar repos on Tuesday

LONDON, May 10 (Reuters) - The Bank of England said on Monday it would restart 1-week dollar repo operations on Tuesday, and hold one each Wednesday in future. The BoE agreed with the U.S. Federal Reserve early on Monday in joint action with the European Central Bank, Swiss National Bank and Bank of Canada to restart dollar repo operations aimed at reducing tensions in interbank lending markets. "The Bank will continue to keep its U.S. dollar repo operations under review in the light of market conditions," the BoE said in a statement. The BoE said it would announce details of each week's repo operation at 7.45 a.m. London time (0645 GMT), followed by giving a rate at 8.15 a.m., opening bidding at 8.30 a.m., closing bidding at 8.45 a.m. and announcing results shortly after 10 a.m. (0900 GMT). (Reporting by David Milliken) ((Reuters Messaging: david.milliken.reuters.com@reuters.net; david.milliken@reuters.com; +44 20 7542 5109)) (Reporting by David Milliken) Keywords: BRITAIN BANK/DOLLAR (Reuters Messaging: david.milliken.reuters.com@reuters.net; david.milliken@reuters.com; +44 20 7542 5109) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

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