Traders Bet BOE Will Cut Rates Before Year-End to Shore Up Economy
- Markets bet on 25 basis-point cut for first time since August
- Repricing follows a string of weak economic data for the UK
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Traders are betting the Bank of England will reverse course and cut its key interest rate later this year to shore up a flagging economy.
For the first time since August, money-market wagers show a quarter-point rate cut is fully priced in by year-end. Rates are still expected to increase next month before peaking at around 4.5% in the summer.