After data showed a larger-than-expected slowdown in the US core PCE in August, the currency market trend suggests an 80% chance that the European Central Bank will cut interest rates by 25 basis points next month. Following lower-than-expected inflation data released in France and Spain for September, traders raised their dovish bets earlier on Friday. Traders are now expecting a 20 basis point rate cut next month, the highest level in the current cycle; last week's expectation was around 5 basis points. Following the inflation data release, economists at Goldman Sachs, JPMorgan, and BNP Paribas have revised their expectations and are now expecting the central bank to lower the deposit rate by 25 basis points next month.