They are the next one to shift towards this call, following from HSBC before this. Both had previously expected the ECB to cut rates in December instead.

Meanwhile, Deutsche Bank was also out in saying that the ECB needs to step up their pace of rate cuts here. But their call came right before this report from Reuters, which sparked further bets by market players in pricing in a rate cut next month.

This article was written by Justin Low at www.forexlive.com.