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Analysts at TD Securities suggest that the ECB decision at 12:45 BST and press conference at 1:30pm should be somewhat more eventful than the BoE decision.

Key Quotes

“We expect the Governing Council to confirm a taper to €15bn/mo in 2018Q4, but to leave a full stop of QE thereafter conditional on inflation developments and the inflation forecast in December.”

“We expect no change to the rates guidance. Alongside the press conference, new projections will be released.”

“Yesterday’s leaks confirm our priors that the inflation forecast is likely to remain unchanged, but the growth forecast will be revised down slightly, with downside risks flagged on EM uncertainty.”

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