2024-07-20 04:00:00 ET
Summary
- The European Central Bank’s July monetary policy meetings tend to be uneventful, and this year proved no exception.
- Given the ECB’s reaction function, we expect the ECB to continue lowering rates at staff projection meetings and therefore anticipate the next cut in September.
- Eurozone employment has grown despite slowing GDP growth, rising by 2.6 million people since the end of 2022, with the unemployment rate at a historic 6.4% low.
While the European Central Bank kept policy rates unchanged, the next cut is likely to be delivered soon. ...
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ECB: Next Stop, September