The National Treasury Management Agency said it plans to hold a bond auction on Thursday September 1 which aims to raise between €1 billion and €1.25 billion.

The NTMA said that two bonds will be offered in Thursday's auction - a 0.35% bond which is due to mature in 2032 and a 1.5% bond which will mature in 2050.

The NTMA has issued €5.75 billion in funding so far this year from a planned range of €10-14 billion.

This is down from the €18.5 billion raised in 2021 as the Government expects to spend far less battling the Covid-19 pandemic.

The NTMA cancelled its planned bond auction for June due to the economy's strong fiscal performance so far this year and the lower Exchequer borrowing.

It also cancelled a Treasury Bill auction earlier this month.