U.K. Gilts Advance as BOE Officials Rule Out Imminent Tightening

U.K. government bonds rose for a second day, with 10-year yields falling to a three-week low, as Bank of England officials said investors should not expect an imminent tightening of monetary policy.

Gilts climbed with German bunds and U.S. Treasuries as policy makers around the world debate the outlook for additional stimulus measures that cap borrowing costs. European Central Bank President Mario Draghi said yesterday policy makers may consider another round of longer-term refinancing operations. Britain sold 5 billion pounds ($8 billion) of inflation-linked bonds maturing in 2068 via banks today. The pound weakened against most of its 16 major peers.