Reported about 1 month ago
Traders have intensified their bets on the Bank of England implementing further rate cuts this year after it lowered borrowing costs by a quarter point, with significant support from the Monetary Policy Committee. Despite a somewhat hawkish tone from policymakers, the unanimous vote for easing raised expectations for additional cuts, with money markets now pricing in two more quarter-point reductions and an 80% chance of a third, impacting the value of the pound and UK bonds.
Source: YAHOO