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UK debt office ramps up gilt sales to fund coronavirus spending surge - Metro US

UK debt office ramps up gilt sales to fund coronavirus spending surge

FILE PHOTO: Britain's Chancellor of the Exchequer Rishi Sunak signs the West Yorkshire Combined Authority devolution deal during a visit to the Nexus Building at the University of Leeds, in Leeds

LONDON (Reuters) – The British government’s debt office will ramp up its sales of gilts to raise 45 billion pounds ($55 billion) in April, reflecting a surge in borrowing and spending planned by finance minister Rishi Sunak to mitigate the economic hit from the coronavirus crisis.

The Debt Management Office said on Tuesday it would conduct four auctions per week starting next week, mainly through the sale of conventional gilts and in maturities across the curve.

(Writing by William Schomberg; editing by Sarah Young)

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