Bank of England halts long-dated gilt sales; rewrites QE unwind plan
BoE paused sales of British government bonds for the next six months and halted long-dated gilt sales entirely, outlining a multi-year programme to offload most remaining £488 billion of gilts by 2034.
The Bank of England paused sales of British government bonds for the next six months and stopped selling long-dated gilts altogether as it laid out a multi-year plan to reduce most of its remaining £488 billion gilts portfolio by 2034. The decision, announced alongside the latest quantitative tightening programme, marks a shift in how the BoE will unwind the assets it bought under QE.