ECB Preview: Focus on new macroeconomic projections – Nomura

Dhwani Mehta FXStreet

Analysts at Nomura offer a brief preview of what to expect from today’s ECB monetary policy meeting, with the interest rate decision due out at 1145 GMT.

Key Quotes:

“We do not expect any policy changes, but the focus will be on the ECB's new macroeconomic projections - released together with the policy rate decision on Thursday.

We expect a modest downward revision for 2018 and 2019 GDP growth forecasts, while the inflation outlook should remain unchanged. President Draghi will have the opportunity to address many more issues in the Q&A.

It seems likely to us that the ECB's language on the economic outlook will remain relatively upbeat - as it was in July. In short, the ECB will most likely remain confident that inflation is on a path towards its primary objective and that growth will remain solid and broad-based over the medium term. We expect the next move by the ECB to be to raise the depo rate in September 2019.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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