UNITED STATES (OBSERVATORY NEWS) — Eurozone money markets on Monday are fully forecasting that the European Central Bank will cut interest rates by 10 basis points in April and provide a 65 percent chance that this could happen at a regulator’s meeting on March 12th.
Expectations of lower rates have risen sharply over the past week in both the eurozone and the US amid concerns about the impact of coronavirus on the economy.
On Monday, futures on interest rates on interbank transactions in the eurozone (Eonia) fully lay down a reduction in the ECB rate by 10 basis points at the April meeting.
Futures show a 65 percent chance of a cut in the ECB rate at a meeting in March. This is 10% higher than a week earlier.
This article is written and prepared by our foreign editors writing for OBSERVATORY NEWS from different countries around the world – material edited and published by OBSERVATORY staff in our newsroom.
Contact us: [email protected]