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ECB Dec Hike Pricing Dips On 50 vs 75bp Bloomberg Sources

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  • ECB-dated OIS for the Dec 14 meeting fall 2bps to 56.5bp after Bloomberg reports ECB officials may favour a 50bp hike instead of 75bp.
  • "Initial discussions suggest a lack of momentum for another 75 basis-point move at present, the people said, declining to be identified because Governing Council deliberations are private. Barring another surprise surge in inflation, the consensus might well favor the less aggressive step, they said" - bbg
  • Further reaction potentially limited by (final) CPI for Oct hitting tomorrow and preliminary Nov CPI on Nov 30, along with the may/might nature of less aggressive steps in the article.

ECB-dated OIS implied hike for Dec meeting (%pt)Source: Bloomberg

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  • ECB-dated OIS for the Dec 14 meeting fall 2bps to 56.5bp after Bloomberg reports ECB officials may favour a 50bp hike instead of 75bp.
  • "Initial discussions suggest a lack of momentum for another 75 basis-point move at present, the people said, declining to be identified because Governing Council deliberations are private. Barring another surprise surge in inflation, the consensus might well favor the less aggressive step, they said" - bbg
  • Further reaction potentially limited by (final) CPI for Oct hitting tomorrow and preliminary Nov CPI on Nov 30, along with the may/might nature of less aggressive steps in the article.

ECB-dated OIS implied hike for Dec meeting (%pt)Source: Bloomberg