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BoE Pricing A Touch Softer On The Day, Next Week's Meeting Eyed

STIR

BoE-dated OIS sits 1-3bp softer on the day but off dovish session extremes after being pulled around by the BoJ developments overnight, the previously covered round of ECB speak/swings in ECB pricing and U.S. data. That leaves ~34bp of tightening showing for next week’s meeting, while terminal policy rate pricing continues to hover around the 5.90% mark.

BoE MeetingSONIA BoE-Dated OIS (%)Difference Vs. Current Effective SONIA Rate (bp)
Aug-235.275+34.4
Sep-235.536+60.5
Nov-235.699+76.9
Dec-235.788+85.8
Feb-245.828+89.7
Mar-245.832+90.1
May-245.805+87.4
Jun-245.756+82.6
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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