Germany to cut debt issuance by seven billion euros in Q4: debt agency

September 20, 2016 4:18 AM EDT

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BERLIN (Reuters) - Germany's debt agency said on Tuesday that it would issue 7 billion euros less of debt in the fourth quarter than it had planned in December.

The debt agency said it would now issue 25 billion euros of capital market instruments in the October-December period, 1 billion euros less than it had planned in December.

It said it would issue 2 billion euros of money market instruments in the fourth quarter, amounting to 6 billion euros less than previously expected.

Two inflation-linked bonds will be auctioned in the fourth quarter, the agency said. It added that it would cancel auctions of 6 and 12-month debt that had been due to take place on Oct. 24, Nov. 14 and Nov. 21.

The German government's coffers have been boosted by surging tax revenues and Germany posted a record budget surplus in the first half of this year.

(Reporting by Michelle Martin; Editing by Caroline Copley)

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