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MNI BRIEF: DMO Head Sees UK Borrowing Coming Down Quickly

LONDON (MNI)

The downward trend in UK public sector borrowing is clear and Robert Stheeman, head of the UK Debt Management Office is reassured that the investor base has held up throughout the Covid pandemic.

Speaking at an OMIF event Stheeman said of the borrowing requirement "we are seeing it coming down quite quickly ... the next few months will be interesting." The DMO's revised remit for 2021-22 was for gilt sales of GBP252.6 billion compared to a remit of GBP385 billion for the April-November 2020 period alone with Stheeman acknowledging that central bank gilt buying after the pandemic hit had been "a hugely stabilizing factor."

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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