Bank of England halts long dated gilt sales
The Bank of England paused sales of government bonds for six months and halted long-dated gilt sales entirely. Officials unveiled a multi-year plan to unwind remaining holdings by 2034.
Insights:
The Bank of England halted sales of long-dated gilts and paused all bond sales for six months, revamping its quantitative tightening programme to offload £488 billion in debt by 2034. The decision arrived alongside an interest rate hold, following a spike in 30-year borrowing costs to their highest level since 1998 in the United Kingdom. The policy shift addresses market turbulence that reignited criticism over central bank losses underwritten by taxpayers.
