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MNI BRIEF: BOE To Start Long Gilts Unwind From Nov 29

(MNI) London

The Bank of England will begin a "timely" unwind of its recent GBP19.3 billion long gilt purchases, the central bank said in a statement late Thursday, with sales to interested parties to start from Nov. 29.

However, the BOE said the unwind must be executed "in a way that is orderly to ensure it does not trigger renewed dysfunction", meaning sales will not start at a fixed pace, but be designed in a demand-led way. The sales will eventually total GBP 12.1 billion of conventional gilts and GBP7.2 billion of index linkers.

The Bank confirmed a Market Notice will be published in the week beginning Nov. 21 setting out operational details. Both the Financial and Monetary Policy Committees have been informed of the sales.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
Bank of EnglandPolicy NewsCentral Bank NewsHomepageCEEMEABank Of England (BOE) Market NewsBriefUKStoryRegion
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
Bank of EnglandPolicy NewsCentral Bank NewsHomepageCEEMEABank Of England (BOE) Market NewsBriefUKStoryRegion
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