Bank of England to stop selling 20- and 30-year gilts, Telegraph reports

The Bank of England will stop selling 20- and 30-year gilts under plans to overhaul its debt sales, the Telegraph reported on Tuesday.

The central bank is overhauling debt sales amid bond market turmoil, the newspaper said, adding that an announcement is expected on Thursday alongside its latest interest rate decision.

The newspaper said, citing sources, that any final decision rested with the central bank.

Reuters could not immediately verify the Telegraph report. The Bank of England did not immediately respond to a request for comment outside of business hours.

Prices of 20- and 30-year gilts fell to their lowest since 1998 last week.

Last year the bank skewed sales away from long-dated gilts, and Deutsche Bank said it expects the BoE to halt them entirely.

Reuters

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