The pause expected Thursday, Oct. 26, 2023 would follow 10 straight hikes, dating back to July 2022. – The European Central Bank is ready to leave interest rates unchanged Thursday for the first time in over a year as theIt would be the bank's first meeting with no change after a torrid pace of 10 straight increases dating to July 2022 that pushed its key rate to a record-high 4%. The ECB would join theIn Europe, inflation peaked at a painful 10.
Surveys of purchasing managers by S&P Global indicate that economic activity fell in October. Analysts at ABN Amro bank foresee a 0.1% drop in economic output in the eurozone for the July-September quarter and minus 0.2% for the last three months of the year. The EU will publish third-quarter figures Tuesday.in the first two quarters of this year. Its biggest economy, Germany, is forecast by the International Monetary Fund to shrink by 0.
That was taken as a signal the ECB was finished raising rates, though some analysts aren't ruling out a last rate hike in December if the expected decline in inflation does not materialize. Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.