December ECB meeting preview: Pushing back against early rate cut speculation

In line with the October meeting, investors are confident that this Thursday’s ECB announcement will leave key interest rates on hold. Indeed, further warning signs of an impending Eurozone recession together with a surprisingly steep fall in inflation have left most forecasters more focused on when the first cut might be delivered in 2024 and how many there might be. No change would leave the deposit rate at September’s record high of 4.0 percent, the refi rate at 4.50 percent and the rate on the marginal lending facility at 4.75 percent. However, while financial markets ponder the probable easing profile next .

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