CME predicts December Bank of England rate hike

CME, which uses its MPC SONIA futures prices to find market expectations of what BoE monetary policy will be, found there is a strong chance the bank will raise rates at its monetary policy meeting on 16 December. There is just a 27.7% likelihood of no change before the end of the year, while markets are pricing in zero prospect of further easing. Erik Norland, senior economist at CME Group, said: "SONIA futures markets currently price that the BoE will become the first of the major central banks to raise interest rates following the pandemic with a 21% probability that they move to tig...