ECB: Preview of meeting on October 2 |
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Overview: We expect the ECB to leave rates unchanged but enter a transition phase towards an easing bias. We expect a softer tone as the Council is becoming increasingly nervous about the economic situation. The ECB is facing several of its risk scenarios. The outlook for inflation is increasingly favourable and the output gap is declining. Furthermore the economic outlook is looking increasingly weak - not least due to the ongoing financial crisis. In our view, the ECB is set to respond with
Filed under: Fundamental
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