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STIR: 35bp Of BoE Cuts Priced Through Dec, Tier 1 Data Due Next Week

STIR
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BoE pricing continues to track gilts, last little changed to 2bp more hawkish on the day, showing 22bp of cuts for November, 35bp of cuts through year-end and 97bp of easing through June.

  • SONIA futures +4.0 to -1.0.
  • Monthly GDP and economic activity data had little lasting impact on GBP STIRs, as is usually the case.
  • More consequential data is due next week, with the CPI readings (Wednesday) and labour market survey (Tuesday) both scheduled.
  • We will provide greater colour on those releases in our regular Global Week Ahead publication, ahead of the full preview which will be released Monday.
  • We will also hear from the dovish MPC member Dhingra (Monday).

BoE Meeting

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BoE pricing continues to track gilts, last little changed to 2bp more hawkish on the day, showing 22bp of cuts for November, 35bp of cuts through year-end and 97bp of easing through June.

  • SONIA futures +4.0 to -1.0.
  • Monthly GDP and economic activity data had little lasting impact on GBP STIRs, as is usually the case.
  • More consequential data is due next week, with the CPI readings (Wednesday) and labour market survey (Tuesday) both scheduled.
  • We will provide greater colour on those releases in our regular Global Week Ahead publication, ahead of the full preview which will be released Monday.
  • We will also hear from the dovish MPC member Dhingra (Monday).

BoE Meeting

Keep reading...Show less