(Bloomberg) -- Investors pared bets on monetary easing from the Bank of England and no longer fully price two interest-rate cuts this year as global markets adjust expectations after the US inflation data.
Money markets trimmed BOE rate-cut pricing for a second day, pricing 49 basis points of easing in 2024, the lowest since October. The first full quarter-point reduction is priced by September
The move follows US data Wednesday that showed both headline and core gauges of consumer prices exceeded economists' forecasts for March. BOE policymaker Megan Greene said rate cuts in the UK “should still be a way off,” according to her article in the Financial Times Thursday.
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