UK 10yr govt bond yield dropping sharply as investors digest BoE's statement pic.twitter.com/Dj08G4dXSd— Ed Conway (@EdConwaySky) July 4, 2013
Pound has lost almost two cents against dollar. Big, big intraday fall. Talk abt making yr mark, Mark pic.twitter.com/wI2uF4HTur— Ed Conway (@EdConwaySky) July 4, 2013
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.
Sterling down substantially, together with yields - Carney didn't change rates/QE but is clearly a big interventionist— Allister Heath (@AllisterHeath) July 4, 2013