Gilt sales to total pounds 25.8bn

Gilt sales to total pounds 25.8bn

The Bank of England said it would sell a total of pounds 25.8bn in gilts in 1995/6 compared with its previous estimate of pounds 23.1bn. Announcing the dates for auctions in the next quarter, it said that the next auction on 26 July would be of 15-year gilts followed by an auction on 27 September of 10-year gilts. The Bank needs to sell pounds 23bn worth of gilts between now and the end of the financial year.