December 03, 2024 07:48 GMT
STIR: GBP STIRs Little Changed On The Day, 83bp Of Cuts Priced Through '25
STIR
GBP STIRs around levels witnessed late Monday.
- SONIA futures flat to +2.5.
- BoE-dated OIS shows 30.5bp of cuts through March and 83bp of easing through December ’25.
- December ’25 pricing is ~25bp more dovish than the November 13 closing level.
- Little of note on the UK calendar today, leaving focus on macro & cross-market spill over.
- Focus on this week’s BoE speak, with Governor Bailey (Wednesday) and MPC member Greene (Thursday) due in the coming days.
BoE Meeting |
SONIA BoE-Dated OIS (%)
Difference vs. Current Effective SONIA Rate (bp)
Dec-24
4.686
-1.4
Feb-25
4.486
-21.4
Mar-25
4.395
-30.5
May-25
4.227
-47.3
Jun-25
4.139
-56.2
Aug-25
4.023
-67.7
Sep-25
3.980
-72.0
Nov-25
3.910
-79.0
Dec-25
3.872
-82.8
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