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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
STIR
BoE terminal rate hike pricing has jumped today (+6bp), in contrast with sluggish moves for the ECB and Fed (under 1bp chg).
- As we noted earlier in the day, this move comes following strong UK wage growth data out this morning, and ahead of Wednesday's key March CPI reading.
- A close at the current 4.84% Bank Rate implied for September would be a fresh post-Mar 9 high for BoE pricing, representing 59bp in tightening from current levels. 22bp (88% prob of a quarter-point hike) is priced for the May meeting, with a full 50bp by August.
- A strong CPI print Wednesday (+9.8% Y/Y expected, +6.0% core) would go a long way to cementing May hike expectations.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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