Here’s a recap of the other decisions in case you need them:
And for today, we are likely to see 25 bps rate hikes for both the SNB and BOE. Things are more certain with regards to the former, as the SNB will continue to keep pace with the ECB in the battle against inflation. As for the latter, there is a risk that the BOE could surprise with a 50 bps move. However, there hasn’t been any real hints of that but markets are certainly anxious.
After yesterday’s hot UK inflation data, the odds of a 25 bps and 50 bps move are finely balanced now with traders seeing nearly 70 bps worth of rate hikes before August. The pricing suggests that either one of the rate decisions today or in August itself will possibly be a 50 bps move. But let’s wait and see what Bailey & co. has to say.