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Terminal Bank Rate expectations up around 12bp post-CPI

SONIA
  • SONIA futures up to 8 ticks lower this morning after the higher than expected CPI print.
  • Pricing for the December meeting has increased from around a 45% probability of a 75bp hike to a 55% probability.
  • Terminal rate expectations have increased around 12bp from 157bp to around 169bp at writing.

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