Eurozone PMI data lowered investor expectations for the ECB rate hike in 2019

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At the end of last week, the slowdown in business activity in the eurozone as a whole and in Germany’s private sector in particular raised concerns about a slowdown in economic growth in this region, finversia.ru writes. These factors, along with concerns about the UK exit from the EU and Italy’s budget plans, led to lower inflation expectations that have decreased to a minimum in a year. It also prompted investors to lower their forecasts regarding the interest rate hike by the European Central Bank in 2019. Now, the probability of an increase in the deposit rate by 10 basis points is estimated by them to be less than 90%, whereas at the beginning of last week it was estimated at 100%.

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