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Sudden jump in interest rate hike expectations: The Bank of England's path is being re-priced, and the signals behind it are not simple. A major event is quietly happening in the market — and most people haven't realized it yet. According to the latest pricing of the overnight index swap (OIS) curve: the market now expects an 84% chance that the Bank of England will raise interest rates twice by 2026 (whereas just last week, this probability was only 60%).