Markets bet ECB will cut rates 1% next year as eurozone splutters

Traders are also anticipating 100 basis points of cuts by the US Federal Reserve next year, with signs of cooling US price pressures on show this week. 

Europe’s sputtering economy is causing traders to bet on a faster pace of interest-rate cuts next year.

Yesterday, for the first time, money markets priced in a full percentage point of interest-rate cuts in 2024.