This year’s rally in the euro and inflation running persistently below the European Central Bank’s target are giving interest-rate traders a reality check. Investors have pushed back the prospect of the first rate increase to March 2019 from December 2018 that they had penciled in at the conclusion of the previous meeting in July. Assuming the ECB won’t raise the deposit facility rate for at least six months after its bond purchases end, this means the markets expect the asset-purchase program to be extended through September 2018.
Source: Bloomberg Pro Terminal
Trader I. Ivanov
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