Comments by ECB member Benoit Coeure in Die Zeit
- Increasingly confident that inflation will rise
While Coeure's comments are likely to have come prior to today's data release, the market surely isn't taking the weak PMI readings today too favourably. Eurozone money markets are currently pricing in a slightly less than 60% probability of a 10 bps rate hike by June 2019 for the ECB. That's a stark comparison to the 90% probability priced in last week.
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