Minutes of the Bank of England Monetary Policy Meeting

From bankofengland.co.uk

There had been some substantial movements in financial asset prices, especially during the early part of the month. These came against the backdrop of monetary policy announcements in the United Kingdom, a string of positive UK economic data releases, and continued speculation over the prospects for the US Federal Reserve’s large-scale asset purchase programme. 3 UK ten-year spot nominal gilt yields had increased by around 40 basis points, while market interest rates had risen by more at shorter maturities: one-year overnight index swap rates two years ahead had risen by nearly 60 basis points. Market prices ... (full story)