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MNI PINCH Update: The ECB meeting this.....>

EUROZONE
EUROZONE: MNI PINCH Update: The ECB meeting this week is unlikely to usher in
any material change in forward guidance. The market will invariably be looking
for any additional insight on the potential impacts of a disorderly Brexit and
more broader acknowledgement of the domestic and external risks facing the euro
area. The OIS market remains sceptical that the ECB will be in a position to
raise policy rates this year, with the probability of a 10bps hike to the depo
rate falling to 31.3% from 38.4% the previous weak. There is no sign yet of a
turnaround in economic activity and inflation expectations remain under pressure
despite the recovery in oil prices.
* Please see: http://marketnews-m.objects.xtenit.com/MNI_PINCH_Update.pdf

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