Bets of ECB March Interest-Rate Cut Increase After Draghi: Chart

The likelihood of another interest-rate cut by the European Central Bank has increased after President Mario Draghi hinted on Thursday of more stimulus at the next policy meeting in March.

The euro overnight index average, or Eonia, which measures the cost of lending between euro-area banks, prices in an almost 90 percent chance of a cut of 10 basis points in the ECB deposit rate in March. That compares with a probability of 35 percent a month ago. Draghi is facing an uphill task in his efforts to quicken inflation due to a slide in oil and commodity prices, as well as the rout in global markets.

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