uk bond yields spiked higher while germany’s edged up as the bank of england responded to above 5 inflation with a benchmark interest rate hike while the european central bank kept rates in negative territory the yield on the 10year uk gilt tmbmkgb10y rose to 134 from 126 after the bank of england made its second consecutive rate increase taking the bank rate to 05 while the rate hike was not a surprise markets hadn’t anticipated four members of the ninemember monetary policy committee would support a halfpoint increase the yield on the 10year german bund tmbmkde10y meanwhile nudged up to 007 from 004 after the european central bank kept interest rates steady and didn’t change the language surrounding quantitative easing the pound gbpeur rose to €12033 from €12088 and gbpusd to 13577 from 13574 all of the major european stockmarket benchmarks were negative in afternoon trade with the stoxx europe 600 sxxp slipping 06 catering group compass cpg jumped 8 after reporting a 39 surge in organic revenue growth in its fiscal first quarter skf skfb slumped as the swedish ballbearings maker reported a core profit below expectations ing inga also dropped as the dutch lender recorded a weaker profit than analysts estimated