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BoE Pricing Flat, Domestic Cues Lacking

STIR

BoE-dated OIS is essentially unchanged on the day, after recovering from lows on Tuesday as oil retraced from worst levels. That leaves terminal rate pricing in familiar territory, just below 5.50% in policy rate terms, while residual pricing of a >25bp hike remains evident over the next few meetings.

  • A quick reminder that the domestic docket is limited through the remainder of this week, with BoE speak and tier 1 economic data set to return after the weekend.
BoE MeetingSONIA BoE-Dated OIS (%)Difference Vs. Current Effective SONIA Rate (bp)
Jun-234.725+29.7
Aug-235.016+58.8
Sep-235.228+80.0
Nov-235.366+93.8
Dec-235.408+98.0
Feb-245.401+97.4
Mar-245.365+93.7

source: MNI - Market News/Bloomberg

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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