Financial News: Amended: European Economic News Preview: ECB Set To

Amended: European Economic News Preview: ECB Set To Cut Key Rates

09/12/2024 - 01:35:00 (RTTNews)

(RTTNews) - Corrects story headline

The European Central Bank is widely expected to cut its key interest rates by 25 basis points amid falling inflation and economic indicators signalling a weaker outlook.

The governing council of the ECB is slated to announce the outcome of its policy meeting in Frankfurt at 8.15 am ET. ECB staff macroeconomic projections are also due. ECB Chief Christine Lagarde will hold the press conference at 8.45 am ET.

Although the fight against inflation is not entirely over as wage growth and selling price expectations are still high, further rate cut decisions beyond the September meeting became more complicated and controversial than currently priced in by financial markets, ING economist Carsten Brzeski said.

Other major economic reports due from Europe are final inflation from Spain and quarterly unemployment data from Italy.

At 2.00 am ET, Destatis publishes Germany's wholesale prices for August. In the meantime, consumer prices are due from Sweden.

At 3.00 am ET, Spain's INE is scheduled to issue final inflation data for August. The flash estimate showed that consumer price inflation weakened to 2.2 percent from 2.8 percent in July.

At 4.00 am ET, unemployment figures are due from Italy. The jobless rate is expected to fall to 7.1 percent in the second quarter from 7.2 percent in the prior quarter.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Japan Overall Bank Lending Climbs 2.7% On Year In September (03 hr(s), 26 min(s), 21 sec(s) ago)
(RTTNews) - The value of overall bank lending in Japan was up 2.7 percent on year in September, th ...Full Story»

Japan Producer Prices Flat In September (03 hr(s), 36 min(s), 21 sec(s) ago)
(RTTNews) - Producer prices in Japan were unchanged in September, the Bank of Japan said on Thursd ...Full Story»

Australia Building Approval Data Due On Thursday (05 hr(s), 46 min(s), 21 sec(s) ago)
(RTTNews) - Australia will on Thursday release August figures for building approvals, highlighting ...Full Story»

Fed Minutes Show 'Substantial Majority' Of Policymakers Favored Rate Cut In September (06 hr(s), 52 min(s), 21 sec(s) ago)
(RTTNews) - A "substantial majority" of Fed policymakers supported an interest rate cut in Septemb ...Full Story»

Mexico Inflation Eases To 4.58%, Lowest In 6 Months (14 hr(s), 48 min(s), 21 sec(s) ago)
(RTTNews) - Mexico's consumer price inflation slowed more-than-expected in September to the lo ...Full Story»

Brazil Inflation Rises To 4.42% In September (15 hr(s), 07 min(s), 21 sec(s) ago)
(RTTNews) - Brazil's consumer price inflation rose in September after easing in the previous m ...Full Story»

India Central Bank Policy Stance Shift To Neutral Opens Door For Rate Cuts (15 hr(s), 52 min(s), 21 sec(s) ago)
(RTTNews) - The Reserve Bank of India maintained its interest rate for the tenth straight meeting ...Full Story»

Irish Manufacturing Production Surges 15.6% (17 hr(s), 21 min(s), 21 sec(s) ago)
(RTTNews) - Ireland's manufacturing output expanded for the second straight month in August, a ...Full Story»