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The ECB decision is coming — here’s what to expect

The ECB interest-rate decision is due at 7:45 a.m. Eastern. Here's what to expect

9/12/2019 1:20:00 PM

The ECB interest-rate decision is due at 7:45 a.m. Eastern. Here's what to expect

If there’s one thing that observers agree on with respect to Thursday’s European Central Bank meeting, it’s that the central bank will announcing a series of...

The ECB will announce its decision at 1:45 p.m. local time (7:45 a.m. Eastern), followed by a news conference with President Mario Draghi at 2:30 p.m. Economists at Goldman Sachs said most of the measures will be revealed in the announcement, rather than the Draghi press conference.

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“Failure to act now when the inflation outlook is weakening and, especially, not using the most effective instrument (QE), would signal a remarkable change in ambition,” said Anatoli Annenkov, an economist at Société Générale, referring to quantitative easing, which the ECB could restart by resuming monthly bond purchases.

The latest data, from August, shows inflation running a full percentage point below its target of nearly 2%. At the same time, the eurozone economy is just limping along, with year-over-year growth of 1.1% in the second quarter.Related: The ECB’s challenge: Pushing rates further into negative territory without wrecking eurozone banks

Here’s a look at what banks are expecting out of the ECB.This month, U.S. DJIA, +0.85% and European stocks SXXP, -0.07% have both added about 2%. Eurozone banks SX7E, +0.45% have done particularly well over the last week. The euro EURUSD, +0.1181% has also crept higher against the dollar.

The yield on the 10-year bund TMBMKDE-10Y, -2.16% has climbed from -0.7% earlier in the month to -0.56%.Also read: Too little or never enough — The ECB risks delivering only disappointmentSteve Goldstein Steve Goldstein is MarketWatch markets editor for Europe. Follow him on Twitter: @MKTWgoldstein.

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