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More on the remit adjustment

GILTS
  • That is the upper end of the range of estimates of GBP6-13bln that we had seen (we had thought it would be the smaller end after this morning's CGNCR data).
  • The DMO notes that the increase was due to GBP9.8bln from CGNCR (which was out at 7:00BST), GBP4.7bln less from "other financing items", GBP0.1bln less bill issuance and partially offset by GBP1.8bln higher gilt issuance in FY23/24.
  • The planned additional conventional auctions will take place on 17 July, 5 February and 25 March with the additional linker auction on 28 August.
  • There are no changes to planned bill sales.

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