– Two-day meeting concludes on Wednesday but the meeting is intermediary and will not be followed by press conference or new updated forecasts (SEP, Summary of Economic Projections) for the key variables. No change in policy is expected.
– If ECB cuts the interest rate of the remain refinancing operation we think the corridor around this rate will shrink to 100 bps, down from 15ßbps currently. The deposit rate will remain at 0.00% while the credit rate will fall to 1.00%
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SEB