(Bloomberg) -- Money markets are bringing forward the timing of the European Central Bank's first rate in hike in more than a decade to October next year from December after President Christine Lagarde's half-hearted pushback Thursday.
Traders now expect the central bank to raise the deposit facility rate by 20 basis points in October 2022 to minus 0.3%, as inflation expectations surge.
German consumer prices jumped 4.6% in October, the fastest pace since 1993, while the Bundesbank said in its latest monthly report that price growth may accelerate further in the coming months before slowing down next year.
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