The European Central Bank will cut its deposit rate next week and announce a res...
BENGALURU - The European Central Bank will cut its deposit rate next week and announce a restart of its asset purchase program, but over 80% of economists polled by Reuters were skeptical about the bank’s ability to influence inflation over the medium term.
The Aug. 29-Sept. 3 poll showed nearly 70 economists were expecting the ECB to cut its deposit rate at its Sept. 12 meeting, with the vast majority predicting a 10 basis point reduction to -0.5%. Nearly a quarter forecast a 20 basis point cut. While more than three-quarters of economists said now is the right time for the ECB to roll out a stimulus package, over 80% of respondents said they were not confident the central bank could control inflation.
That came after last week’s flash reading of 1% for August headline inflation — the same as in July and the lowest since late 2016.
France Dernières Nouvelles, France Actualités
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