The 3-Month (Sterling Overnight Index Average) interest rate curve forecast a 5% money market peak interest rate according to the Bank of England
These are the Bank of England rates and forwards. the daily rate was 4.18%. That also could imply that for the 3-month (Sterling Overnight Index Average) rate curve to peak at 5%. The daily rate could have to peak at 5.5%.
The GILTs rate yield curve with the 1 Year Yield of 4.41% already pricing in a 0.25% hike from the Bank of England.
the OIS forward curve pricing 4.92% sterling money market interest rates in 6 months forward and to peak within 8 months forward. somehow pricing the Bank of England being at 5% in December and going to reduce bank rate forward in 2024.
