The latest charts on the Bank Bill Swap Rate shows that rates eased slightly from the peaks reached in April 2018. But we also see a move higher again in the past week, so the trajectory may still be up ahead.
In practice, the gap between the lowest and highest rates for the 3 month series peaked at 32 basis points, but is now back to 17.5 basis points. Still up, but it perhaps puts less pressure on bank margins as a result.
