LONDON, Sept 27 (Reuters) - Several brokerages now expect the European Central Bank to deliver a quarter-point cut at its Oct. 17 meeting, as data showing economic weakness and slowing inflation pushes policy makers to focus more on growth and less on price pressures.
Market pricing now reflects around an 80% chance of such a rate cut, which would follow reductions at the ECB's June and September meetings.
Euro zone business activity contracted sharply and unexpectedly in September, surveys showed, as the bloc's dominant services industry flatlined and a downturn in manufacturing accelerated, while inflation in France and Spain for September came in very soft.
Sources told Reuters that ECB policy doves are preparing to fight for an October rate cut - though this would likely meet resistance from more conservative peers - a turnaround from the aftermath of the ECB's September meeting when they saw an October move as unlikely.
Reporting by Alun John; Editing by Amanda Cooper
