The Bank of England’s Monetary Policy Committee (MPC) unanimously voted to stop selling long-dated gilts (U.K. government bonds) and redirect active quantitative tightening (shrinking a central bank balance sheet) toward shorter and medium maturities. The restructured program runs through September 2034 and targets an average annual reduction of £46 billion. Active open-market sales will account for £20 billion a year, while £26 billion will come passively as bonds mature. Of the roughly £368 billion of gilts earmarked for disposal, £222 billion is expected to mature naturally and £146 billion will be sold outright. No long-dated gilt auctions are scheduled for the third quarter of 2026. The Bank Rate remained at 3.75% after the MPC’s unanimous meeting decision on September 16, 2026. The shift should ease supply pressure on long-dated gilts, benefiting pension funds and insurers, while concentrating sales in shorter maturities could put modest upward pressure on two- to 10-year yields.