German bond yields hit a new high ahead of the European Central Bank's decision

Eurozone government bond yields remain high ahead of the European Central Bank's policy decision, with analysts expecting the central bank to raise interest rates by 25 basis points. The yield on Germany's 10-year government bonds rose to 3.44%, having previously reached 3.4514%, the highest since 2011. The market expects the European Central Bank's deposit rate to be 2.74% by December, up from the current 2.25%.