Money markets have adjusted their expectations regarding the European Central Bank's (ECB) deposit rate, pricing it at 2.10% for December, up from 2.05% prior to the ECB's recent statement. This change reflects a shift in sentiment, as market participants scale back their bets on potential rate cuts, with the current pricing indicating less than two cuts by year-end, totaling a cumulative 46 basis points. Analysts suggest that a pause in rate adjustments could occur in April, as ECB President Christine Lagarde emphasizes a data-dependent approach to future monetary policy decisions.