Rate cut expectations plummet; it is almost certain that the US and UK central banks will keep rates unchanged in March

Golden Ten Data reported on March 3 that Sonal Desai from Franklin Templeton pointed out in a report that the Middle East war has led to a rise in oil prices, fueling expectations of global inflation heating up. Desai stated that this should prompt investors to lower their expectations for rate cuts by major central banks. According to data from the London Stock Exchange Group, the market currently expects the probability of the Bank of England cutting interest rates in March to be 31%, much lower than last week's expectation of 83%; meanwhile, investors expect the probability of the Federal Reserve cutting rates in March to be only 4%.