I'm not familiar with the source but Econostream Media has a report, citing an 'ECB insider' that says the central bank is more likely to hike 50 basis points than 75 basis points in October.
The source said that the commentary on 'frontloading' is an indication the ECB won't be as aggressive going forward.
"That's what frontloading means -- that you can't say that 75 is our new standard move" even temporarily... "It's just that this particular time we moved by 75, which doesn't mea that next time it will also be 75 bps." He also indicated that 50 bps should be the expectation now but could change depending on data and that 75 would need a "very strong case".
EUR is up 40 pips today.