UBS says its way too early to begin talking about European Central Bank interest rate cuts

UBS describe the rate decision from the ECB meeting on Thursday as a non-event. Highlights from the note:

  • the remarks following emphasised again the dour state of the euro area economy
  • Lagarde pointed to the need for steady policy
  • the Bank is data-dependent
  • inflation outlook will be closely observed (UBS add that the CPI print due on October 31 is the next major data point)

Earlier re EUR & the ECB:


This article was written by Eamonn Sheridan at Source