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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 continues to hold in line with previously flagged levels, showing ~34bp of tightening for today’s meeting, as the recent run of data leaves markets positioned a little more hawkishly than the unanimous (albeit heavily caveated) baseline view of the sell-side, which looks for a 25bp hike. Meanwhile, terminal rate pricing sits a little above 6.00% in policy rate terms.
| BoE Meeting | SONIA BoE-Dated OIS (%) | Difference Vs. Current Effective SONIA Rate (bp) |
| Jun-23 | 4.766 | +33.7 |
| Aug-23 | 5.195 | +76.6 |
| Sep-23 | 5.547 | +111.8 |
| Nov-23 | 5.795 | +136.6 |
| Dec-23 | 5.928 | +149.9 |
| Feb-24 | 5.978 | +154.9 |
| Mar-24 | 5.956 | +152.7 |
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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