There was never any doubt that the ECB would cut its deposit rate by 25bp today, to 3.5%. Meanwhile, the policy statement and press conference were largely as expected and do not change our view that the next rate cut is most likely to be in December – albeit October looks like being quite a close call.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.