BoE Axes Long-Dated Gilt Sales Amid Market Turmoil

The Bank of England is planning to overhaul its debt sales, with reports suggesting that it will stop selling 20- and 30-year gilts. According to the Telegraph, this move comes amid bond market turmoil. The central bank has been skewing its sales away from long-dated gilts in recent months, a trend that may continue under these new plans.

Last week, prices of 20- and 30-year gilts fell to their lowest since 1998, suggesting growing investor unease. Deutsche Bank has predicted this move, stating that the BoE would halt long-dated gilt sales entirely.

No official announcement has been made by the Bank of England yet, but sources suggest it will come on Thursday alongside its latest interest rate decision. Reuters could not verify the Telegraph report and the central bank did not respond to a request for comment outside of business hours.