BOE’s Greene Says Traders Were Right to Trim Rate Hike Bets

Bank of England policymaker Megan Greene said markets were justified in dialing down bets on interest rates hikes after last month’s surge, speaking in Washington.

In a Bloomberg TV interview on Wednesday, Greene suggested the current market position — which implies two or fewer interest rate rises this year — is “about right.” Until a recent easing, swap pricing pointed to more hikes as the BOE said it was prepared to respond to inflation from the Iran energy shock.