IRPR

Interest rate futures are pricing in a roughly 96% chance for a 25 bps move for the next BOE policy meeting in March. I would say that is pretty much what one should expect especially after the February decision here. The pound may be looking upbeat with cable rising above 1.2100 so far on the session but that owes a little to a slight near-term release as noted here. In the bigger picture, I would say the data today changes nothing about the BOE outlook - for the most part.