TD Securities: The ECB is expected to cut interest rates again in October, and the pace of rate cuts will accelerate thereafter

According to Odaily, James Rossiter, the global macro strategy chief at TD Securities, and others said that the European Central Bank (ECB) faces a tricky decision in October, as service sector inflation remains high, while the labor market has been performing steadily, but recent data shows inflation is below the target. However, they stated in a report that TD expects the ECB to cut rates again in October, and the pace of rate cuts will accelerate thereafter. They said: "We now expect the ECB to cut rates by 25 basis points in consecutive moves from October through March next year, taking the deposit rate to a floor of 2.50%, six months earlier than previously anticipated."