The Bank of England has announced the schedule for its gilt sales in the third quarter of 2025, as part of its ongoing efforts to reduce the stock of gilts held in the Asset Purchase Facility (APF). This follows a decision made by the Monetary Policy Committee (MPC) in September 2024 to decrease the APF's gilt holdings by £100 billion from October 2024 to September 2025, bringing the total down to £558 billion.
According to a Market Notice issued on June 20, 2025, the Bank will conduct auctions across different maturity sectors between July 7 and July 28. The auctions are intended to distribute reductions evenly across short, medium, and long maturity sectors. The short maturity sector auction is scheduled for July 7 with a size of £750 million. A long maturity sector auction will occur on July 21 with a size of £600 million, and a medium maturity sector auction is set for July 28 at £750 million.
The Bank reiterated that it would continue monitoring market conditions and could adjust its sales schedule or auction sizes if necessary. Future schedules for gilt sales beyond Q3 are expected after an annual review by the MPC, with announcements likely following their meeting on September 18, 2025.
The operational parameters and participation requirements outlined in previous notices remain applicable unless amended in this latest notice.
Information from this article can be found here.