<p style=““ class=“text-align-justify“>Interest rate futures are pricing in a roughly 96% chance for a 25 bps move for the next BOE policy meeting in March. I would say that is pretty much what one should expect especially after the February decision <a target=“_blank“ href=“https://www.forexlive.com/centralbank/boe-raises-bank-rate-by-50-bps-to-400-as-expected-20230202/“ target=“_blank“ rel=“follow“>here</a>. The pound may be looking upbeat with cable rising above 1.2100 so far on the session but that owes a little to a slight near-term release as noted <a target=“_blank“ href=“https://www.forexlive.com/news/sterling-jumps-after-upbeat-uk-pmi-data-20230221/“ target=“_blank“ rel=“follow“>here</a>. In the bigger picture, I would say the data today changes nothing about the BOE outlook – for the most part.</p>

This article was written by Justin Low at www.forexlive.com.