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ECB leaves monetary policy unchanged
ECB President Lagarde noted high domestic price pressures and elevated services inflation, emphasizing data-dependent decisions.
BOC expected to cut interest rates for the second consecutive meeting.
Inflation in Canada slowed to 2.7% in June from 2.9% in May.
ECB left monetary policy unchanged, emphasizing data-dependent decisions.
The BOC
Canada's central bank is expected to cut interest rates for the second consecutive meeting next week Wednesday, as inflation returns to target levels and the labor market shows signs of slack, indicating a reduced need for restrictive monetary policy.
According to a survey by MNI, 19 out of 23 economists predict a quarter-point cut to 4.5%. The remaining economists anticipate the Bank of Canada will hold off on this decision and potentially make a move in September.
Inflation slowed to 2.7% in June, according to figures released earlier this week, down from 2.9% in May.
The ECB
The European Central Bank left monetary policy unchanged on Thursday, offering no definitive guidance on future rate paths. The ECB reiterated that policy decisions will remain data-dependent and will be determined on a meeting-by-meeting basis.
ECB President Christine Lagarde stated that monetary policy is maintaining restrictive financing conditions. However, she pointed out that "domestic price pressures remain high, services inflation is elevated, and headline inflation is likely to stay above our target well into next year."
