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interest rate cutCNBC
•89% Informative
European Central Bank on Thursday delivered a quarter -point interest rate cut, marking its second reduction to the deposit rate this year .
ECB lowered its 2024 growth forecast to 0.8% , down slightly from an earlier projection of 0.9% , citing "weaker contribution from domestic demand over the next few quarters " The ECB 's meeting comes just days before the Federal Reserve appears poised to start its own rate-cutting cycle.
Economists and strategists overwhelmingly expect the European Central Bank to deliver a quarter -point interest rate cut on Thursday .
The highly anticipated rate decision is expected at 1:15 p.m. London time.
ECB President Christine Lagarde is seen as likely to stick to central bank's recent narrative that interest rate decisions are data-dependent and taken on a meeting-by-meeting basis.
European markets open sharply higher ahead of ECB rate decision on Thursday .
ECB wary of 'many risks' surrounding the growth outlook, S&P Global Ratings economist says.
Goldman Sachs chief European economist Jari Stehn says ECB likely to deliver a quarter -point rate cut.
UBS CEO Sergio Ermotti suggests a "moderate" interest rate cut is appropriate course of action.
VR Score
95
Informative language
97
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71
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