08:09 AM EDT, 10/03/2024 (MT Newswires) -- Gilts are outperforming all other main sovereign bond benchmarks Thursday following comments from Bank of England Governor Andrew Bailey, said Scotiabank.

In an interview with daily The Guardian, Bailey said the BoE could become "a bit more aggressive" reducing Bank Rate and "a bit more activist" as long as inflation figures are supportive.

As a result, pricing for the November BoE decision added about 2bps to slightly over a quarter-point reduction, with the bigger move being to raise pricing for the December meeting by 5bps to a cumulative 43bps of cuts, so leaning toward back-to-back reductions, stated Scotiabank.