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ECB VIEW: TD Securities Join Growing Consensus for October Move

ECB VIEW
BundesbankEM BulletCentral Bank NewsCEEMEAEurozoneGermanyGlobalEmerging Market NewsEuropean Central BankBulletMarketsFixed Income BulletsForeign Exchange BulletsRegion

TD Securities the latest to shift their ECB expectations to an October rate cut today: They see conditions as having been met for a more rapid pace of rate cuts by the ECB and now look for sequential 25bps cuts from October to March, taking the depo rate to its terminal of 2.50% six months sooner than previously anticipated.

  • As a result, they tweak their front-end Bund yields only marginally, but still look for 10y Bunds to end the year at 2%.
  • TDS join the likes of Goldman Sachs, HSBC, RBC, JPM, Barclays and Danske in forecasting an October rate cut in a view that's fast becoming the consensus call.
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TD Securities the latest to shift their ECB expectations to an October rate cut today: They see conditions as having been met for a more rapid pace of rate cuts by the ECB and now look for sequential 25bps cuts from October to March, taking the depo rate to its terminal of 2.50% six months sooner than previously anticipated.

  • As a result, they tweak their front-end Bund yields only marginally, but still look for 10y Bunds to end the year at 2%.
  • TDS join the likes of Goldman Sachs, HSBC, RBC, JPM, Barclays and Danske in forecasting an October rate cut in a view that's fast becoming the consensus call.