JPMorgan now expects 10 basis point cut in ECB deposit rate in Sept

Author: Adam Button | Category: Central Banks

JPMorgan jumps on the cut bandwagon

"We now expect the ECB will amend its forward guidance in July and deliver a 10bps deposit rate cut in Sept, initially without tiering," JPM says in a note.

They don't expect more QE at this stage but warn that visibility is low in terms of the macro outlook and how the ECB will respond to it.

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