Yields rise after chancellor replaced and BoE ends gilt market operations

BoE’s bond market operations conclude

Jonathan Stapleton
clock • 1 min read
Conclude after buying a total of nearly £20bn of paper.
Image:

Conclude after buying a total of nearly £20bn of paper.

The Bank of England concluded its gilt market operation - buying a total of £1.450bn of paper in today’s auction.

The bank said it had purchased a total of £1.3bn of conventional and £129.4m of index-linked gilts in today's auction - taking the total amount of bonds it has purchased under its scheme to a total of £19.3bn, comprising of £12.1bn of conventional and £7.2bn of index-linked gilts.

30-year gilt yields stood at 4.8% at 4:15pm today - up 50 basis points from a low point of around 4.3% at midday today but only a little higher than the close of 4.5% yesterday. They are still considerably lower than the highs on Wednesday, when yields breached the 5% barrier.

This comes as prime minister Liz Truss appointed Jeremy Hunt as the new chancellor following the sacking of Kwasi Kwarteng today (14 October).

More on UK

UK shop prices rise as supply chain costs impacted by Middle East conflict
UK

UK shop prices rise as supply chain costs impacted by Middle East conflict

Food inflation eases

Michael Nelson
clock 31 March 2026 • 2 min read
UK inflation data for February 'little more than a relic' as it holds at 3%
UK

UK inflation data for February 'little more than a relic' as it holds at 3%

Uncertainty over central bank rates

Michael Nelson
clock 25 March 2026 • 3 min read
Franklin Templeton Institute's Michael Browne: The unravelling of the UK property dream
UK

Franklin Templeton Institute's Michael Browne: The unravelling of the UK property dream

Politicians 'need rising house prices'

Michael Browne
clock 25 March 2026 • 4 min read
Trustpilot