The Bank of England's MPC held rates and removed 'rate cut' from its guidance, warning it is 'ready to act at any time' on inflation. UK 2-year gilt yields surged 27 bps in a single session and 90 bps
Asia-Pacific and European markets joined U.S. equities in a global sell-off. The Nikkei plunged 3.4%, gold crashed 6% below $4,600, silver fell 13%, and the Bank of England removed 'rate cut' language