Investors have increased their bets on the Bank of England's further interest rate cuts. Earlier, officials hinted that they will continue to gradually relax monetary policy next year. The money market currently expects monetary easing to be around 60 basis points in 2025, which means that two interest rate cuts of 25 basis points and the possibility of a third rate cut is 40%. In contrast, the pre-decision expectation was 55 basis points. Although the nine-member Monetary Policy Committee is expected to keep the benchmark interest rate unchanged at 4.75%, three officials voted to cut interest rates. This prompted traders to reflect. Previously, they were increasingly skeptical about whether the Bank of England would cut interest rates drastically in 2025. The Bank of England's monetary policy has been less relaxed than the Federal Reserve's so far this year.