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ECB: Speak in the Week to Sep 9, 2024

ECB
  • The ECB has entered its pre-meeting quiet period. A 25bp cut is unanimously expected and fully priced by ECB-dated OIS.
  • Nagel remains non-commital, while Simkus notes an October cut is quite unlikely. Stournaras and Cipollone lean unsurprisingly dovish.
  • Sources (bbg) expect decisions to get a lot more contentious as rates approach 3%.
  • MNI Policy Team sees new Bank of Spain Governor Escriva as more dovish than predecessor de Cos.

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