The two-year UK bond yield rose by about 4 basis points on the Bank of England's interest rate cut day, as investors were disappointed by the central bank's decision statement.

At the end of the European market on Thursday, the yield on 10-year UK government bonds rose by 0.7 basis points to 4.482%. At 20:00 Beijing time, the Bank of England announced a rate cut, causing the yield to quickly rise from below 4.450% to nearly 4.5%. The yield on 2-year UK bonds rose by 3.7 basis points to 3.744%, holding steady below 3.7% before the release of the decision statement from the Bank of England, and continued to trade around 3.75% after the statement was released. The Bank's statement stated, "We still believe that interest rates will gradually decline... But after each rate cut, the subsequent rate cuts will face more difficult choices."