ECB Traders See Historic Half-Point Rate Hike in December

Traders have baked in bets that the European Central Bank will deliver the biggest interest-rate hike in two decades at their December meeting.

Money markets on Thursday priced in a 50 basis point increase to the bank’s deposit rate, making a move of that magnitude for the first time since 2000. In fact, traders are nearly factoring in the possibility that such a hike could come even sooner, at the bank’s October meeting.