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Hawkish Bloomberg ECB Sources

ECB
  • Bloomberg write that “policymakers are increasingly wondering if they may only be able to cut interest rates once more this year, according to people familiar with the matter.”
  • “With inflation pressures still lingering, officials are becoming less confident that a path for two further reductions is realistic, and don’t want investors to assume that a move in September is a done deal, said the people, who declined to be identified because deliberations are private.”
  • “Policymakers’ experience of having made too strong a commitment to move in June — when they cut borrowing costs even after an acceleration in price growth — are also motivating them to keep all options available for the upcoming decision on Sept. 12, according to the people.”
  • The story sees a small increase in EURUSD off lows but struggles to make ground, at 1.0916 off lows of 1.0905 that hadn't troubled support at 1.0872 (Jul 16 low).
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