European Central Bank announcement due 1145GMT (consensus expectations is no change) on Thursday 10 September 2020
- ECB President Lagarde press conference follows at 1230GMT
Via Nomura, not expecting any policy change, but to comment on the EUR:
- We expect the ECB to address the recent euro area negative inflation print and the euro’s appreciation
- ECB is unlikely to act on disappointing inflation yet, but we think that if the ECB decides to do so, the PEPP, rather than rates cuts, would be the preferred instrument. The benefits that a 10bp rate cut would bring to inflation at these levels are marginal, notwithstanding its beneficial impact on the euro
Earlier:
