GBP STIR markets little changed to start the day.
- BoE-dated OIS shows ~63bp of cuts through '24.
- Core global bond futures operate around levels seen at yesterday's SONIA settlement.
- Discussions surrounding yesterday's Budget continue to dominate.
- UK Halifax house price data lodged a fifth consecutive M/M rise.
- The latest BoE DMP survey headlines the UK calendar on Thursday.
- Spill over surrounding the latest ECB decision will be eyed this afternoon.
| BoE Meeting | SONIA BoE-Dated OIS (%) | Difference Vs. Current Effective SONIA Rate (bp) |
| Mar-24 | 5.198 | +0.9 |
| May-24 | 5.168 | -2.1 |
| Jun-24 | 5.089 | -9.9 |
| Aug-24 | 4.955 | -23.4 |
| Sep-24 | 4.842 | -34.6 |
| Nov-24 | 4.686 | -50.3 |
| Dec-24 | 4.563 | -62.6 |
