The Bank of England said it had invitedan early round of bill offers from the discount houses after
forecasting a shortage of around 950 mln stg in the money
market today.
    Among the main factors affecting liquidity, bills maturing
in official hands and the take-up of treasury bills will drain
around 572 mln stg while a rise in note circulation wil take
out some 280 mlns stg.
    In addition, exchequer transactions and bankers' balances
below target will remove some 85 mln stg and 15 mln stg for the
system respectively.
 REUTER
