ECB's Coming Rate Decision Appears a Foregone Conclusion
Dow Jones
2 hours ago
0553 GMT - The market enters the European Central Bank's monetary policy meeting with its outcome "effectively a foregone conclusion," BNP Paribas analysts say in a note. Money markets are fully pricing a 25-basis-point hike on Sept. 10, according to LSEG. "Two developments reinforce the case for a September hike, in our view," they say. The first argument is the duration of the Middle East conflict and the broadening of energy price pressures, they say. "Indeed, while significant uncertainty persists, there appears to be little sign of an imminent resolution to the conflict." The second development supporting another hike in September is the resilience of the economy, they add.
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