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EUR STIR Markets Hold Familiar Levels As ECB Decision Nears

STIR

Little net movement in ECB-dated OIS today, with ~21bp of cuts priced through June and ~93bp of cuts showing through year end.

  • The latest ECB decision is 10 minutes away, with focus set to fall on the Bank’s economic projections and any colour re: future monetary policy moves.
  • Given the very cautious approach to easing by the ECB, with the GC wanting sufficient confirmatory evidence from inflation and wages, we stick with our expectation that the first policy rate cut will be delivered in June.
  • Our full preview of the event is available here.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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