Traders trim bets on BoE easing favouring just one rate cut in 2025

The market pricing now sees 34 bps of easing in 2025 compared to 41 bps before the UK CPI release. The next cut is fully priced in for November.

This is still a bit high in my opinion and I would expect some more hawkish repricing in the next weeks and months.

This article was written by Giuseppe Dellamotta at www.forexlive.com.