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October ECB meeting preview: Recession no hurdle to monetary tightening
Financial markets are convinced that Thursday’s ECB announcement will include another sizeable increase in key interest rates. In line with the last move in September, the only uncertainty is about the magnitude. The consensus is for another record-equalling 75 basis point hike that would put the deposit rate (still the main policy rate due to the abundance of excess liquidity) at 1.5 percent, the refi rate at 2.0 percent and the rate on the marginal lending facility at 2.25 percent. However, 75 basis points is not a done deal as last month a number of Governing Council (GC) members wanted just a 50 basis point ... (full story)
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