Market players add to ECB rate cut odds for the remainder of the year | Forexlive

That follows from the report here. And the odds of a 25 bps rate cut for next month are now at ~80%. As for the remaining two meetings combined (the other in December), traders are seeing ~48 bps of rate cuts in total now. But to be fair, that is just a mild step up from earlier this week where they were seeing ~46 bps of rate cuts by year-end.

So, it isn’t that big of a deal as market players have pushed for this already following the string of softer euro area data since earlier this week here.

Looking out to next year, traders are seeing ~142 bps worth of rate cuts by June. Including the two meetings left for the year, the ECB will be meeting six times by then. In essence, traders are looking for a 25 bps rate cut at nearly every meeting until then.