13:11

The first negative-yielding gilt has appeared in the UK following Carney’s speech today (as flagged a few minute ago).



A gilt maturing in March 2018 traded at -0.003%, as expectations for further easing from the Bank increased.



According to Mitul Patel, head of interest rates at Henderson Global Investors:

“The market now expects interest rates to fall to close to 0%, and whilst Carney has previously stated a dislike of negative interest rates, nothing can be taken off the table.”

He added that interest rates “are unlikely to go up for several years following the EU referendum result.”