The Bank of England allotted a record 69.870 billion pounds ($93.86 billion) in seven-day funds in its weekly short-term repo operation on Thursday, higher than a previous record of 68.929 billion pounds set last week.

The BoE has increasingly used its short-term repo operations to provide banks with reserves as it sells down its stockpile of government bonds bought under its quantitative easing programme.

($1 = 0.7444 pounds)