EONIA forwards are now pricing 80% chance of a 10bp rate from ECB in March

FXStreet (Mumbai) - The outcome of the last week’s ECB policy meeting was surprisingly more dovish, as the Governing Council unanimously agreed to review and reconsider policy at the March 10 meeting.

Hence, post-ECB decision, EONIA (Euro OverNight Index Average) forwards are now pricing 80% chance of a 10bp rate from ECB in March as opposed to 50% chance seen in the first week of Jan.