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Little Change In BoE Pricing On The Day, Familiar Themes Dominate Discussions

STIR

BoE-dated OIS is relatively stable today, with ~87bp of cuts priced through ’24, 65-70bp off the late Dec dovish extremes. There has been little to add on the domestic front since this morning’s comments from MPC member Breeden, with desks discussing the interlinkages between familiar themes including labour market dynamics (with a particular focus on wages), the short- to medium-run inflationary outlook and fiscal matters.

BoE MeetingSONIA BoE-Dated OIS (%)Difference Vs. Current Effective SONIA Rate (bp)
Mar-245.178-1.0
May-245.108-8.0
Jun-244.989-19.9
Aug-244.825-36.3
Sep-244.667-52.1
Nov-244.467-72.1
Dec-244.319-87.0
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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