UK Raises Planned Gilt Sales for Year by More Than Expected
- Government will sell £12.4 more bonds than initially planned
- Issuance will add to second-largest borrowing plan on record
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The UK government raised the amount of bonds it plans to sell this fiscal year by more than analysts expected, adding to what was already the second-largest gilt package on record.
The nation will sell £12.4 billion ($15.3 billion) more gilts compared to the Debt Management Office’s original plan for the 2024-25 fiscal year, it said in a statement Tuesday. That will take issuance to £277.7 billion, with the additional sales skewed toward shorter maturities.