Gilt sales for Q2 2026 detailed, targeting £488 billion APF stock
The Bank of England has published its Q2 2026 schedule for gilt sales from the Asset Purchase Facility. This plan contributes to the Monetary Policy Committee's decision to reduce the APF stock by £70 billion to a total of £488 billion by September 2026.
Q2 2026 sales by maturity sector
The Monetary Policy Committee (MPC) decided in September 2025 to reduce the Asset Purchase Facility (APF) gilt stock by £70 billion, targeting £488 billion by September 2026.
For Q2 2026 (April-June), the Bank of England will conduct two £825 million auctions for short-maturity gilts and two £725 million auctions for medium-maturity gilts.
One £675 million auction is planned for long-maturity gilts, aligning with a strategy to sell fewer long-dated bonds to better match market demand conditions.
Operational flexibility and future guidance
The Bank of England reserves the right to amend its gilt sales schedule, including auction sizes and specific gilts, based on market conditions.
This ensures operational flexibility.
The Bank expects to announce the Q3 2026 sales schedule on 19 June 2026.
Indicative plans for Q3 include three short and two medium maturity sector auctions, but these numbers are strictly indicative and subject to change depending on gilt prices and sales distribution.