By Lorena Ruibal


The U.K. Debt Management Office said Wednesday that it was reducing the estimated net financing requirement for 2021-22 by 82.8 billion pounds ($114.05 billion) to GBP171.6 billion.

The DMO's financing remit has been published as part of the Budget announcement.

Planned gilt sales are being reduced for the remainder of the fiscal year by GBP57.8 billion to GBP194.8 billion, the DMO said. Of that, GBP26.3 billion will be raised via index-linked gilts and the remainder via conventional gilt sales.

In April, the DMO revised down the net 2021-22 financing requirement to GBP254.4 billion, down GBP43.3 billion from an initial forecast the month before.


Write to; @lorena_rbal


(END) Dow Jones Newswires

October 27, 2021 09:23 ET (13:23 GMT)

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