LONDON, March 2 (Reuters) - Euro zone money markets were on Monday pricing in a 10 basis point (bps) rate cut at the European Central Bank's April meeting, and around a 65% chance that it could move at its March 12 policy gathering.
Market rate cut expectations have shot up in the past week, both in the United States and Europe, as the coronavirus outbreak is seen dealing a blow to the world economy.
Trade in money market futures on Monday showed that investors are now fully pricing in a 10 bps rate cut by ECB at its April meeting.
Eonia money market futures dated for the European Central Bank's March meeting show around a 65% chance of a 10 bps cut is factored in. That's up from around 10% a week ago. (Reporting by Dhara Ranasinghe, editing by Karin Strohecker)