Global Macro Service > Research Briefings > Eurozone

ECB watch – Council’s caution may worry markets

We expect the ECB to deliver a broad easing package in September as the weak and highly uncertain outlook threatens the resilience of domestic demand and medium-term inflation prospects. We expect a cut of the deposit rate to -0.5%, an extension of forward guidance to end-2020, a €20bn QE program and a clear commitment to upsize the package, if the outlook weakens further.

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