Bank of England drops of long -term bond sales amid market turmoil

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The Bank of England has dropped plans to sell long -term bonds next week in response to disturbances in the last financial market and will instead sell Gilts in the “quantitative tightening” program of asset sales.

The advertisement, which follows a sharp sale in the price of sovereign bonds in the United Kingdom with a merit of 10 and 30 years, means that the Bank of England will only sell bonds with brief term at an auction on April 14 instead of the long bonds that it initially planned.

The Bank of England said on Thursday that it made the decision “in light of the fluctuations of the recent market,” adding that “it intends to reschedule the long maturity auction to the next quarter” as it seeks to continue to reduce the bonds held in the asset purchase facility “as much as it can be through the maturity sectors.”