Gilts rose after the Bank of England cut its benchmark interest rate 25 basis points in the first reduction since 2009. The BOE announced a plan to lend as much as 100 billion pounds ($132 billion) to banks to spur the economy as it slashed growth forecasts. The yield on the 10-year gilt fell to a record low.

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BOE's Carney: Steps Taken Due To Markedly Changed Outlook

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