Free Trial

BoE Pricing Still Leans More Towards One Further Hike Than End Of Cycle

STIR

BoE-dated OIS runs flat to marginally higher on the day, even with core global FI markets biased a touch richer and nothing in the way of meaningful domestic inputs noted.

  • Around 12bp of tightening is showing for November, with terminal policy rate pricing sitting around 20bp above prevailing levels i.e. roughly 80% odds of one further rate hike in the cycle is priced.
  • A quick reminder that tomorrow will see us (MNI) host a speech and Q&A session with Andrew Hauser, Executive Director for Markets at the Bank of England.
BoE MeetingSONIA BoE-Dated OIS (%)Difference Vs. Current Effective SONIA Rate (bp)
Nov-235.304+11.8
Dec-235.358+17.2
Feb-245.391+20.5
Mar-245.387+20.1
May-245.346+16.0
Jun-245.290+10.4
Aug-245.203+1.7
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

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.