ECB: Expect no change to the rates guidance – TDS

Analysts at TD Securities suggest that the ECB decision at 12:45 BST and press conference at 1:30pm should be somewhat more eventful than the BoE decision.

Key Quotes

“We expect the Governing Council to confirm a taper to €15bn/mo in 2018Q4, but to leave a full stop of QE thereafter conditional on inflation developments and the inflation forecast in December.”

“We expect no change to the rates guidance. Alongside the press conference, new projections will be released.”

“Yesterday's leaks confirm our priors that the inflation forecast is likely to remain unchanged, but the growth forecast will be revised down slightly, with downside risks flagged on EM uncertainty.”