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Friday Data Calendar: UofM Sentiment

ISRAEL

President Asks Netanyahu To Form Gov't

BONDS

Giving back some of yesterday's CPI rally

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Price Signal Summary - USDJPY In Free Fall

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ECB
ECB: Q: The last meeting didn't lead to any new stimulus measures. Has the ECB
already done enough?
A: Our decisions are guided by the incoming data, so we continuously monitor
what is happening in the economy and financial markets. We calibrate our
measures based on these data. Our latest macroeconomic projections were
published in June, which was when we decided to expand our measures because we
saw that the economic and, in particular, the inflation outlook had deteriorated
substantially. We've now seen some upside surprises but they are not sufficient
to make us change course from our baseline scenario, which projects an 8.7% drop
in real GDP in 2020. There was hence no reason to revise our decision from the
previous meeting. In any case, we have certainly seen an improvement in the
financial data, compared with the situation back in March. Markets have calmed
down quite a bit. Nevertheless, financial conditions are still somewhat tighter
than they were before the pandemic.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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