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Citigroup expects ECB to cut policy rates by 25 bps in October meeting By Reuters


(Reuters) – Citigroup said that it now expects the European Central Bank (ECB) to cut interest rates by 25 basis points in its Oct. 17 meeting, according to a note on Tuesday.

© Reuters. FILE PHOTO: FILE PHOTO: The Citigroup Inc (Citi) logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. Picture taken October 19, 2017. REUTERS/Chris Helgren/File Photo/File Photo

The brokerage said this revision comes after ECB President Christine Lagarde in her hearing at the European Parliament said that the Council’s confidence in a timely return of inflation to target had increased, and that the Council will take that into account in its next policy meeting this month.

The brokerage further expects subsequent cuts in December and through the start of 2025 to take the policy rate to 1.5% by September 2025.





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