Investors add to bets on BoE rate cuts after Trump tariff move
ReutersFeb 3, 2025 7:42 AM
LONDON, Feb 3 (Reuters) - Investors added to their bets on the pace of interest rate cuts by the Bank of England on Monday as global markets reeled in response to U.S. President Donald Trump's announcement of import tariffs on trading partners.
Interest rate futures were pricing about 80 basis points of reductions to the BoE's Bank Rate by December this year at 0735 GMT, compared with 75 bps - which represented a full pricing of three quarter-point rate cuts - on Friday.
The chance of a quarter-point BoE rate cut on Thursday, after its February Monetary Policy Committee meeting, was seen as a 94% probability, also up from Friday.
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