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$ This Amount is Called "principal", Plus Interest, Form

$ This Amount is Called "principal", Plus Interest, Form

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Well, as you say, it was all but certain. Every single one of the 65 economists we surveyed saw this coming. It's the third cut of the easing cycle. Notably, it's the first back to back rate cut we've seen from the ECB in over a decade, Jon. But it's been such a turnaround since September when, remember, Christine Lagarde was really pointing to December for the next cut. And it's because you've got inflation back below the 2% target and all the signs suggesting weakness in growth. When you look at the survey data now, if you put this decision aside, the convert press conference in just into half an hour is really going to be all about the path ahead. And as you say, looking at that guidance, not a whole lot of clues being given. are steady off the back of this decision. Again, they reiterate that they need to keep policy sufficiently restrictive for as long as needed to keep inflation at 2% in the medium term. That is important because, y

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