Traders expect a 20 per cent chance that the ECB will cut rates by 50 basis points in December

Traders expect a 20 per cent chance of a 50 basis point rate cut by the European Central Bank in December. ECB officials, who expect inflation to reach 2 per cent in the first or second quarter of next year, are said to see a very high likelihood of a rate cut in December. Officials did not discuss the option of a 50 basis point rate cut this week.