Carney's first MPC meeting sees the pound and yields drop sharply

While the Bank of England's Monetary Policy Committee (MPC) held rates and QE, other announcements have seen the pound tumble below $1.51 and 10-year yields are also getting crushed.

Some key parts of the statement (release):

Twelve-month CPI inflation rose to 2.7% in May and is set to rise further in the near term.


The significant upward movement in market interest rates would, however, weigh on that outlook; in the Committee’s view, the implied rise in the expected future path of Bank Rate was not warranted by the recent developments in the domestic economy.