- Advertisement -
Traders on Wednesday scaled back bets for a September interest rate hike in the euro area following much weaker-than-expected business activity data from Germany, Europe’s biggest economy.
Money market futures now price just a 40% chance of a quarter point rate hike from the European Central Bank next month, compared with roughly a 60% chance priced in ahead of the data .
German business activity contracted at the fastest pace for more than three years in August, a preliminary survey showed on Wednesday.
- Advertisement -
