Nomura expects dovish hints from ECB
According to Nomura’s global client survey, the ECB is expected to lower the benchmark rate in December by 54% of the respondents. In November the majority expects the central bank to stay on hold. In addition, almost half of the surveyed thinks that the euro zone inflation will drop below 0.5% over the next year.
As a result, Nomura says that the biggest surprise of the ECB’s meeting tomorrow would be a tone in press conference which doesn’t hint at a rate cut in December.