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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-dated OIS firms post-BoE (1-6bp higher from June ’23 out to Mar ’24), given the lack of alterations to the Bank’s guidance phrasing and economic projection tweaks that we have flagged previously. Fresh richening in the wider core global FI complex and the fact that the market was already pricing a more hawkish BoE policy rate path than the sell-side consensus is probably limiting the move. Peak BoE policy rate pricing still sits in the 4.90-4.95% window as a result.
| BoE Meeting | SONIA BoE-Dated OIS (%) | SONIA BoE-Dated OIS-Pre BoE (%) |
| May-23 | 4.428 | 4.434 |
| Jun-23 | 4.628 | 4.617 |
| Aug-23 | 4.797 | 4.769 |
| Sep-23 | 4.881 | 4.842 |
| Nov-23 | 4.885 | 4.837 |
| Dec-23 | 4.841 | 4.783 |
| Feb-24 | 4.749 | 4.689 |
| Mar-24 | 4.617 | 4.565 |
Source: MNI - Market News/Bloomberg
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
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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