Bank of England to stop selling 20- and 30-year gilts, Telegraph reports

Business Recorder, citing a Telegraph report, said the Bank of England plans to end sales of its 20-year and 30-year gilts as part of a broader overhaul of how it issues debt. The newspaper tied the overhaul to bond market turmoil and said an announcement was expected on Thursday, alongside the central bank's latest interest rate decision. According to the Telegraph's sources, the final decision rests with the central bank.

Reuters had not yet been able to confirm the Telegraph account, and the Bank of England had yet to reply to a query sent after business hours. Long-dated gilt prices dropped last week to their lowest level since 1998. Last year the central bank shifted its sales away from long-maturity bonds, and Deutsche Bank expects a complete halt to such sales.