(Bloomberg) -- U.K. bonds headed for a weekly drop,
pushing 10-year yields to near the highest in seven years, on
speculation the Bank of England will add to yesterday's interest
rate increase in coming months to cool inflation.
The BOE raised rates for a fifth time in 12 months, to a
six-year high of 5.75 percent, and signaled further increases
may be needed. The central bank said inflation risks in the
medium term ``lie to the upside.'' The government said today
that factory production rose in May to the highest in almost six
years, a sign manufacturing is supporting economic expansion.
Read more at Bloomberg Bonds News
pushing 10-year yields to near the highest in seven years, on
speculation the Bank of England will add to yesterday's interest
rate increase in coming months to cool inflation.
The BOE raised rates for a fifth time in 12 months, to a
six-year high of 5.75 percent, and signaled further increases
may be needed. The central bank said inflation risks in the
medium term ``lie to the upside.'' The government said today
that factory production rose in May to the highest in almost six
years, a sign manufacturing is supporting economic expansion.
Read more at Bloomberg Bonds News
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