1232 GMT - Yields on U.K. government bonds fall sharply after all members of the Bank of England monetary policy committee voted to cut interest rates by at least 25 basis points, with two members favoring a bigger 50 basis-point reduction. This is likely to mean a higher possibility of more rate cuts to come. The 2-year gilt yield declines to a 3-month low of 4.074% following the decision, from 4.134% beforehand, Tradeweb data show. The ten-year gilt yield turns negative on the day, dropping to 4.375%, from 4.421% beforehand. (miriam.mukuru@wsj.com)
(END) Dow Jones Newswires
February 06, 2025 07:32 ET (12:32 GMT)
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