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2024/09/06 / Erste Group Research
Week Ahead

Next interest rate cut by the ECB

The ECB Governing Council will meet next week to decide on future monetary policy. Like the market, we expect a rate cut of 25bp. The economic data of recent weeks points relatively clearly in this direction. The economy in the Eurozone is only slowly picking up speed, especially considering the previous weak phase. Inflation data is moving in the right direction, even if risks remain.

Statistics Austria published national accounts figures for the second quarter this week. According to the figures, Austria's gross domestic product (GDP) contracted by -0.6% y/y, marking the fifth consecutive quarter of y/y decline. In view of this development, which fell well short of our expectations, we are now forecasting GDP growth in Austria to stagnate this year (+0.0% y/y; previous +0,2% y/y).


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General information

AuthorErste Group Research
Date2024/09/06
Product typeweekly / bi-weekly
Product nameWeek ahead
Topic in focusMacro/ Fixed income
Languageen
Market cap-
AvailabilityAll [1]
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