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Confirmation of Gilt Sales Nov 1, Short & Medium Only

BOE
  • The BOE confirms first the first gilt sale operation will take place Nov 1, delayed one day for the fiscal announcement on Oct 31. It’s official confirmation after earlier denying that it would further postpone sales.
  • The decision to skew sales to short- and medium-dated gilts was one option floated in MNI's Gilt Week Ahead published yesterday here.
  • “Currently expects to conduct APF gilt sales operations in Q4 2022 at a similar size and frequency as had been previously announced”.
  • “Any shortfall as a result of the earlier postponement relative to its previous sales plan incorporated into sales in subsequent quarters.”
  • “For Q4 2022, these APF gilt sales operations will be distributed evenly across the short and medium maturity sectors only.”
  • Press release: https://www.bankofengland.co.uk/news/2022/october/boe-confirms-apf-gilts-sales-for-q4-2022

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