Market expectations for additional Bank of England rate hikes rose from about 40 basis points on Monday, signaling traders see the central bank as still likely to tighten further.
UK rate futures now imply about 50 basis points of Bank of England tightening by December, up from about 40 basis points on Monday. The move indicates traders have increased bets that the BoE is not finished raising rates this year, with futures markets reflecting shifting expectations for the policy path.