BoE to Scrap Long-Term Gilt Sales Amid Bond Market Turmoil

The Bank of England is set to overhaul its debt sales process by stopping the sale of 20- and 30-year gilts, according to a report from the Telegraph.

The decision comes as part of a broader effort to address bond market turmoil. The central bank is reportedly planning to make an announcement on this matter alongside a crucial vote on interest rates, which is expected to take place on Thursday.

The exact details and implications of this move are not yet clear, but it marks a significant shift in the Bank of England's approach to debt sales. Reuters could not immediately verify the Telegraph report, leaving some uncertainty around the accuracy of these claims.