ECB sources: Broad support starting to form over Sept rate cut

• Broad support starting to form for Sept cut but not a done deal
• Inflation developing as expected, economic growth is weak, wage pressure easing

The market was already pricing in a 99% chance of a move so this isn't a big surprise but the early signalling also suggests that October is in play. Current Oct pricing is 40 bps (including the 25 bps in Sept).