Sterling and gilt yields jump as Carney votes against more QE

Sterling and gilt yields have jumped this morning after the latest Monetary Policy Committee minutes revealed Mark Carney and all other MPC members voted against more QE in July.

In Carney's first meeting as governor, all nine MPC members voted against increasing asset purchases by another £25bn - the first time this year the vote has been unanimous. The comittee had previously been split 6-3 on keeping QE on hold, with former governor Mervyn King among those to vote for further asset purchases. Sterling jumped sharply against the dollar from below $1.51 to $1.524 immediately after the minutes were released, before moving back down to $1.52. That followed a sharp sell-off earlier in the morning as currency traders awaited the minutes. The yield on benchm...