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MNI: MNI PINCH calculate market pricing in a total...>

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MNI: MNI PINCH calculate market pricing in a total of 37.5bps of rate hikes by
the Fed in 2018 despite dovish interpretation of November FOMC minutes. Chance
of a deposit rate hike at the ECB by the end of 2018 have ticked higher though
following ECB Coeure comments and minutes of ECB GC meeting. In the UK there has
been next to no change in likelihood of another rate hike next year. Please see
MNI PINCH email for full details.

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