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2025-11-03 18:02:42
[UK gilt yields dip, probability of Bank of England rate cut surges fivefold] ⑴ The yield on 10-year UK gilts fell 0.7 basis points to 4.405%, recovering from the 6.5-month low of 4.369% hit early last week. ⑵ The money market's expectation of a Bank of England rate cut this week has reached 30%, a significant increase of about five times from 6%-8% in early October. ⑶ Despite persistently high inflation and uncertainty surrounding the November 26th budget, the market widely expects the rate to remain unchanged at this meeting. ⑷ Recent lower-than-expected employment and inflation data are key factors driving the rising expectations of a rate cut. ⑸ Analysts expect a very close vote on the Monetary Policy Committee, indicating significant disagreement within the decision-making body. ⑹ Investors are now focusing entirely on the Bank of England's interest rate decision on Thursday.
