President of the European Central Bank Christine Lagarde suggested the bar for more cuts was high. Photo: Michael Probst/AP
©Reuters
Money markets pared back their bets on European Central Bank (ECB) rate cuts yesterday, now pricing in just a 50pc chance of an additional 25-basis-point easing move by the end of the year.
Markets had on Wednesday seen a 58pc chance of a rate cut by December, which was down near certainty last week, before the announcement of the US-Japan trade deal and the ECB meeting.
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