The Gilt Edged Market

Paul Temperton

Chapter 8 in A Guide to UK Monetary Policy, 1986, pp 113-137 from Palgrave Macmillan

Abstract: Abstract The previous chapter described the types of debt instrument issued by the government. This chapter deals in detail with the most important group of instruments — gilt edged stocks (gilts). We start by discussing the present institutional structure of the gilt market; this is due to change in 1986 and an outline of the new system is given. We go on to describe the methods which are used to sell gilts, emphasising how these have changed recently in order to make the government’s funding more flexible. Finally, we examine the factors behind the shape of the gilt yield curve, emphasising the importance of interest rate and inflationary expectations and the government’s funding programme.

Keywords: Interest Rate; Yield Curve; Real Interest Rate; Money Market; Market Maker (search for similar items in EconPapers)
Date: 1986
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DOI: 10.1007/978-1-349-07996-4_8

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