U.K. Rate-Cut Bets Soar After Carney’s Pledge on Economy: Chart

Traders raised bets on a U.K. interest-rate cut before August as Bank of England Governor Mark Carney pledged to safeguard the economy after Britain voted to leave the European Union. “Some monetary-policy easing will likely be needed over the summer,” Carney said in a televised address Thursday. The chance of a reduction, calculated using swaps on the sterling overnight index average, jumped to almost 70 percent.

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