After the Bank of England maintained interest rates, the pound narrowed its gains and UK government bonds rose.

The British pound against the US dollar narrowed its gains, British government bonds rose, and the Bank of England maintained its interest rate at 4% with a 5-4 vote, as expected. The British pound rose 0.1% against the US dollar to 1.3067. The yield on the 10-year British government bond fell 2 basis points to 4.44%; the yield on the 2-year government bond fell 3 basis points to 3.78%. The currency market maintained expectations of a rate cut in December and increased bets on loose monetary policy next year.