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/ECB Policy Outlook Update: Doves Dominate -....>

ECB
ECB: /ECB Policy Outlook Update: Doves Dominate
- UBS was one of the last holdouts on ECB deposit rate cuts, but changed their
view on July 14, and now expect 10bps reductions at the ECB's Sep and Dec
meetings (though does not have APP relaunch as a base case).
- Since our Jul 1 update (https://emedia.marketnews.com/ECBExpJul2019.pdf) we've
also added views from SocGen and ING to our matrix. SocGen becomes among the
most dovish forecasters that we track, looking for the depo rate to be cut as
far as -0.70% with up to E1trn in QE possible.
- See full PDF here: https://emedia.marketnews.com/ECBJul152019Update.pdf

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