The odds of a BOE rate cut continue to recede further
Earlier this week, such expectations were kicked back to next year and now it is moving towards 2H 2022 as the market becomes more and more convinced that the BOE isn't going to be cutting rates any time soon - let alone pursue negative rates this cycle.
The central bank is set to unveil its findings of a review on how negative rates might play out in practice today but policymakers to keep a firm tone that they are still nowhere near considering to act; yet they will maintain that it remains an option if necessary.
