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According to Odaily, European Central Bank (ECB) President Christine Lagarde has announced that the recent decision to cut interest rates was unanimously agreed upon. Lagarde indicated that inflation might reach the target level by next year. However, she noted that the current inflation forecast still faces bidirectional risks, with the downside risks being more significant than the upside risks.
According to BlockBeats, on October 17, European Central Bank President Christine Lagarde released the latest data indicating that economic growth is expected to weaken further. The survey also shows a slowdown in employment growth.Inflation is projected to decrease to the target level by next year. The risks to economic growth are skewed to the downside.
According to Odaily, U.S. retail sales in September saw a slight increase, surpassing expectations and supporting the view of strong economic growth in the third quarter. The monthly retail sales rate for September recorded a 0.4% increase, compared to an unrevised 0.1% rise in August. While these signs of economic recovery may not prevent the Federal Reserve from cutting interest rates again next month, they do reinforce the expectation of a 25 basis point rate cut.
According to Odaily, analysts have indicated that the recent European Central Bank (ECB) rate decision did not present any surprises. They suggest that if inflation and PMI data for October and November continue to decline unexpectedly, a 50 basis point rate cut could be possible at the next meeting in December. Given that this rate cut and additional cuts (five more by the end of next year) have already been factored into European stock markets, the current earnings season is more likely to dominate market trends.