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Finance

Money markets once again ramp up ECB rate hike bets

2021 11 11T073040Z 1 LYNXMPEHAA0BO RTROPTP 4 ECB POLICY - Global Banking | Finance

LONDON (Reuters) – Euro zone money markets on Thursday brought forward bets for a European Central Bank rate hike, reflecting a shift higher in U.S. rate-rise expectations after strong inflation numbers on Wednesday.

Eonia money market futures dated to the European Central Bank’s September 2022 meeting see a 100% chance of a 10 basis point rate rise. At the start of the week, market pricing had pointed to a full 10-basis-point move by December 2022.

Money market pricing also suggests investors are pricing in a strong chance of a second rate hike by the end of next year.

(Reporting by Dhara Ranasinghe; Editing by Rachel Armstrong)

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