- Latest data from July and Aug point towards economic deceleration in Q3 and probably in Q4
- We need to keep working to get inflation back to the 2% target
- September decision is still up for debate
- Data in the next days is key to the ECB decision
- We are at the finishing stretch of rate hiking process
The market has shifted to pricing in a 73% chance of the ECB holding from about 50/50 at the start of the week. That's fallen from about 60% before the comments from Schnabel earlier.
