{
  "id": 8248598,
  "title": "British Pound: QT overhaul supports Gilt curve and Pound – MUFG",
  "url": "https://urgent.news/2026/09/18/british-pound-qt-overhaul-supports-gilt-curve-and-pound-mufg",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-18T13:03:52.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/british-pound-qt-overhaul-supports-gilt-curve-and-pound-mufg-202609181303"
  },
  "original_language": "en",
  "account": "British Pound and Gilts benefit from Bank of England's surprise decision to maintain interest rates and an overhaul of quantitative tightening (QT). Derek Halpenny from MUFG notes that the decision to pause QT sales, hold long Gilts, and make structured sales to the Department of the Treasury (DMO) will ease long-end yield risks and is mildly advantageous for the Pound. Only 2 basis points were anticipated for the Bank of England's announcement, indicating the updated QT plan was unexpected. As a result of the active sales of GBP 20bn per year of Gilts maturing between 2035 and 2049 directly to the government via the DMO instead of the market, the 30-year Gilt decreased by 12 basis points. This move is expected to reduce risks to the Gilt market in the lead-up to the budget on October 28th.",
  "summary": "Derek Halpenny at MUFG highlights that the Bank of England left rates unchanged, but signals suggest a hike is likely in November as most of the majority voting bloc see tightening as needed.",
  "key_points": [
    "Bank of England maintains rates, overhauls QT",
    "Pauses QT sales, holds long Gilts, makes structured sales to DMO",
    "30-year Gilt drops 12 basis points, reduces risks before October budget"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}