BOE is confirming its assets purchase facility gilt sales to go on as planned

The Bank of England Bank of England The Bank of England (BoE) functions as the United Kingdom’s central bank and is one of the key drivers of monetary policy in Europe. As one of the world’s oldest central banks and established in 1694, the BoE is owned by the British government. Its central mandate involves maintaining and targeting interest rates while using other tools to help either stimulate or contract the economy. Moreover, the BoE is responsible for producing the UK’s bank notes as well as supervising key bank payment sy The Bank of England (BoE) functions as the United Kingdom’s central bank and is one of the key drivers of monetary policy in Europe. As one of the world’s oldest central banks and established in 1694, the BoE is owned by the British government. Its central mandate involves maintaining and targeting interest rates while using other tools to help either stimulate or contract the economy. Moreover, the BoE is responsible for producing the UK’s bank notes as well as supervising key bank payment sy Read this Term confirms that its asset purchase facility (APF) gilt sales will go ahead as planned.

• In light of the government's fiscal announcement now schedule for 31 October 2022, the 1st gilt sale operation will now take place on 1November 2022
• the bank currently expects to conduct APF gilt sales operations in Q4 2022 at a similar size and frequency as had been previously announced
• any shortfall as a result of the earlier postponement relative to its previous sales plan will be incorporated into sales and subsequent quarters
• the bank will continue to monitor market conditions closely, and where appropriate factor that into the design of its sales operation
• MPCs decision at its September meeting to reduce the stock of purchase gilts is unaffected and unchanged

Earlier today there were rumblings that the QT sales would be delayed. That was subsequently denied. This confirms the denial.

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