Exclusive-ECB doves to push for rate cut in Oct, hawks to dig in - sources [Yahoo! Finance Canada]
BNP PARIBAS SPONS ADR (BNPQY)
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Source: Yahoo! Finance Canada
an interest rate cut next month after a string of weaker-than-expected economic data, a move likely to meet resistance from their more conservative peers, seven sources told Reuters. ECB policymakers had seen an Oct. 17 rate cut as rather unlikely after lowering borrowing costs this month on the back of weaker growth forecasts and expectations for a continued, albeit bumpy, fall in inflation over the next year. However, disappointing euro zone business surveys and German sentiment data, as well as a bigger-than-envisaged slowdown in wages, have emboldened policymakers who favour lower rates - or doves in market parlance - to push for a cut, the sources said. Energy costs have also tumbled in recent weeks and some market indicators now point to a risk that the bank could undershoot its inflation target for an extended period. Any push to cut rates again, however, will encounter vigorous opposition from so-called hawks, who argue that surveys often paint a bleaker picture than h
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