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  • 1 min

ECB will reduce its rates as expected

  • 25 July 2019
  • Philippe Waechter
  • ECB
  • Monetary Policy
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The ECB will cut interest rates in September with probably a differentiated deposit rate regime depending on the amount of deposits. It is considering the resumption of asset purchases.
The analysis I was doing this morning always seems correct to me (see here).
I will add another remark nonetheless. The risk of recession appears low according to Draghi. What will the ECB do in the event of a recession? It will be necessary at all costs a proactive fiscal policy to get out. That’s a risky bet

Related Topics
  • ECB
  • Monetary Policy
On the same topic
  • 2 min

The German saving rate doesn’t depend on the ECB interest rates

  • 18 October 2019
  • Euro Area

Philippe Waechter

There is a lot of talks about the German savings rate, which is supposed to have increased recently in response to the drop in interest rates, notably the ECB rates.…
  • Germany
  • Saving Rate
READ
  • 1 min

The German recession is here

  • 13 August 2019
  • Euro Area

Philippe Waechter

The risk of recession is increasing in #Germany. The figures for industrial production (-7.5% in Q2 at annual rate (see here)) set the context for the GDP figure to be…
  • Germany
  • Récession
  • ZEW
READ
  • 1 min

Recession in Germany

  • 7 August 2019
  • Euro Area

Philippe Waechter

German production fell -1.8% in June over one month (excluding construction). It has fallen in 5 of the last 6 quarters and in Q2 the decline is -7.5% annualized rate.…
  • Germany
  • Growth
  • Industrial Production
  • Récession
READ
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