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ECB preview: Resisting the push back
The first question for next week's European Central Bank meeting is how the Bank will react to current market pricing. The second, however, is why should the ECB react to current market pricing. We expect the ECB to stay on hold and give very little indication about the timing of any upcoming rate cut. When there is such a stark discrepancy between market expectations and official ECB comments as there is currently, every ECB preview should start with the question, ‘What will the ECB do at the next meeting to finally guide markets?’. This preview, however, starts with the question, ‘Why should the ECB actually ... (full story)