The Bank of England said it received offers totalling 2.32 times the 1.7 billion pounds' worth of gilts with a maturity of three to 10 years it offered to buy on Monday in a reverse auction.

Bank said investors offered it some 3.939 billion pounds' worth of gilts, and it focused its purchases on the 2 percent 2016 gilt. It bought none of the 4.75 percent 2015 gilt, 8 percent 2015 gilt, 3.75 percent 2020 gilt or 3.75 percent 2021 gilt.

Bank said at the start of October that it would buy 75 billion pounds of assets with newly created money over the following four months in response to a darkened economic outlook.

It bought 200 billion pounds of assets, mostly gilts, in a first round of quantitative easing between March 2009 and February 2010.

(Reporting by David Milliken)