[PMI Data Improvement Supports Bank of England Rate Hike, UK Bonds Decline] Jinshi Data, April 23 – As PMI data indicates an improvement in the economic conditions of the UK private sector, it provides grounds for the Bank of England to raise interest rates this year, leading to a decline in bond prices. Traders have increased their expectations for rate hikes by the Bank of England, currently anticipating two 0.25 percentage point hikes this year, with a 50% probability of a third hike.