Lloyds profits jump 33% on higher rates as BOE holds steady
Lloyds Bank reported a 33% increase in profits due to higher interest rates, even as the Bank of England maintained its current rate amid inflation concerns. Despite Lloyds' results and the BoE's decision, traders have not adjusted expectations for a U.S. Federal Reserve rate cut in June 2026, keeping odds largely flat. Markets remain focused on direct signals from Fed officials or new economic data before shifting positions on future rate moves.
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Lloyds Bank reported a 33% jump in profits driven by higher interest rates, while the Bank of England held rates steady on inflation concerns. The probability of a Fed rate cut after the June 2026 meeting sits at 4.3% YES, up slightly from 4% a week ago. In the Fed rate cut market for June, odds have stayed flat despite the Lloyds news and the BoE’s hold, meaning traders aren’t treating either as a signal for Fed policy. Daily trading volume is $2,646, with $5,970 needed to shift odds by 5 points. The July market prices no change at 85.5% YES, consistent with expectations that the Fed stays put through summer. The largest single move in this market was a 46-point spike to 50%, which shows how quickly these odds can reprice on real news.
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