The Bank of England will sell £20 billion of gilts each year as part of the APF unwind
The Bank plans annual gilt sales of £20 billion. It will hold £222 billion of earlier-maturing gilts to maturity and retain a separate £120 billion of long-dated gilts to back banknotes.
This brief summarises reporting published by www.bankofengland.co.uk on 17/09/2026. Claims below are attributed to that source.
APF auctions are paused while the Bank reviews a selling model
The Bank will assess progress before April 2027, after which, subject to a final decision, the sales could be integrated into the Debt Management Office’s annual financing plan
Future gilt sales will be carried out at prevailing market prices and announced in advance
The annual £20 billion sales are slated to finish around the 2034 unwind of gilts held to maturity, aligning with the MPC’s multi‑year strategy
