Bank of England to start selling UK government bonds on 1 November

The BoE will start selling stock of British government bonds, but will not sell any longer-duration gilts this year. Instead, sales in 2022 will be in short- and medium-maturity sectors, of bonds up to 20 years. One of the longest-dated UK government bonds, 30-year gilts, were at the centre of the recent sell-off and concerns about the pensions industry, which led the Bank to implement an emergency purchasing programme. In order to avoid conflicting with a government fiscal statement on October 31, the central bank said that it was delaying the start date for the introduction of its s...