A succession of stronger economic data releases, coupled with speculation of early entry into the single currency, has prompted a dramatic shift in the markets’ expectations of the future path of interest rates in recent weeks. Money markets are now pricing in more than a quarter point rise in rates before the end of this year and a further increase to 6% or so in 2002.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.