Investors cut bets on BoE rate hike after coronavirus variant news

LONDON (Reuters) – Investors scaled back their bets on the chance of a Bank of England interest rate hike in December in early trade on Friday after a coronavirus variant that might be harder to combat with vaccines was detected in South Africa.

Interest rate futures were pricing a roughly 55% chance of 15 basis-point rate hike by the BoE on Dec. 16 – after its next scheduled monetary policy meeting – compared with a roughly 75% chance on Thursday.

Yields on two-, five- and 10-year British government bonds fell by around 10 basis points in early trade.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

See also Virgin Orbit is assembling a fleet of 747 jets to launch more rockets into space

READ SOURCE