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***Ahead of BoE monetary policy decision......>

SONIA
SONIA: ***Ahead of BoE monetary policy decision and MPC minutes at 1100GMT, MNI
PINCH is implying only a 5.5% chance of rates rising 25bp today and a 41% chance
of a hike in rates at Nov 2017 meeting. Markets pricing a full 25bp rate hike in
May 2018, according to MNI PINCH. 1y1y Sonia forward last 0.3bp lower at
60.5bps.
*Month.......Rate....Prob 25bps Hike
*-----.......----....--------------- 
*September...0.229%......5.5%
*November....0.316%.....41.0%
*December....0.330%.....47.0%
*February....0.417%.....81.5%
*March.......0.415%.....80.5%
*May.........0.459%.....98.5%
*June........0.463%.....99.5%
*August......0.504%....115.5%

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