ECB decision: Interest-rate cut forecast as investors eye Lagarde press conference for outlook

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The European Central Bank will be the next of the major monetary guardians to deliver a policy decision. The announcement is due Thursday in Slovenia at 2:15 p.m. local time, 8:15 a.m. Eastern, and a press conference will be held 30 minutes later.

The majority of analysts, and indeed interest rate derivative markets, predict the deposit rate will be trimmed by 25 basis points to 3.25%, with a similar sized reduction for the main refinancing operations and the marginal lending facility.

The deposit rate was pushed to a record high of 4% in Sept. 2023 as the ECB strived to continue damping inflation that had risen above 10% in the autumn of 2022 following COVID-related supply disruptions and a spike in energy prices after Russia’s full-blown invasion of Ukraine.

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