Forex
Bank of England to Scrap Long-Dated Gilt Sales Amid Turmoil
The Bank of England is planning to overhaul its debt sales by stopping the sale of 20- and 30-year gilts. According to a report in The Telegraph, the central bank will make an announcement on Thursday alongside its latest interest rate decision.
The move follows bond market turmoil, which has seen prices of long-dated gilts fall to their lowest since 1998 last week. Last year, the Bank of England skewed sales away from long-dated gilts, and Deutsche Bank expects the central bank to halt them entirely.