Euro-area bond yields edged lower after the ECB decision; German 2-year Bund yield rose 1bp intraday to 2.858%.

UBS Investment Bank economists said in a note the Bank of England’s probability of raising rates in coming months has fallen as sluggish growth and a softer labour market reduce the case for further tightening. They said the Bank can address second‑round inflation risks by keeping policy at current restrictive levels for longer rather than hiking. Still, rising oil prices and some Monetary Policy Committee members’ tilt toward hikes mean a rate rise cannot be ruled out.

法國7月INSEE製造業信心指數 101，預期101，前值100。