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Europe Week Ahead: ECB Meeting, EZ PMI, -HICP, UK PMI
From a global macro perspective, there is little change to expect from the ECB at its upcoming policy meeting, which will be held exceptionally on Wednesday in Paris. The gradual, albeit steady improvement in leading economic indicators has removed the need for a policy rate cut for now. However, a cross-check analysis based on the monetary pillar remains consistent with the ECB’s easing bias and forward guidance, as reflected in the further contraction in bank credit flows to the private sector this week. Eurozone inflation reaching new lows in September (flash HICP expected next week) will only strengthen the ... (full story)