Market pricing shows that the possibility of the Bank of England raising interest rates by 25 basis points this year no longer reaches 100%.

The money market has reduced bets on further interest rate hikes by the Bank of England, with the possibility of a 25 basis point increase by the end of the year no longer reaching 100%. On Tuesday, market expectations for a rate hike at the Bank of England's monetary policy committee meeting in December dropped by 4 basis points to 24.7 basis points. Earlier, the market anticipated that the US and Iran might reach an agreement, leading to a decline in oil prices and UK government bond yields.