🏦🇬🇧Update: GBP Interest Rate Probabilities

• There has been a decent move in rate hike bets after the BoE was close to deliver a 50bps Bank Rate hike on Thursday as four MPC officials voted for more than a 25bps increase. The overnight index swap curve now sees the rate increasing to 1% by May and to 1.5% by September. Next meeting, there's a 178% chance of rate hike and is followed by 140% seen in May, money markets see a total of 5 hikes in 2022