I'm looking at your BoEWatch tool https://www.cmegroup.com/trading/interest-rates/bank-of-england-watch-tool.html. The associated video talks about the BoE base rate, and then the "target rate". It doesn't explain what the difference is between these, and it's not clear to me. The current chart shows a 100% chance of a target rate of 0.3 after this week's meeting. The BoE's current base rate is 0.5% and is expected to be 0.75% after the meeting. So what is the meaning of this target rate which is expected to be 0.3?
Anyone know?
Anyone know?
