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In the week ending September 7, the advance figure for seasonally adjusted initial claims was 230,000, an increase of 2,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 227,000 to 228,000. The 4-week moving average was 230,750, an increase of 500 from the previous week's revised average. The previous week's ...
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The ECB cut the deposit rate by 25bp, thus confirming the quarterly pace of cuts. We think this pace will be maintained, and still see the deposit rate at 2.25% at the end of next year. Financial markets are pricing in faster and steeper cuts. • The ECB cut the deposit rate by 25bp, in line with expectations, and repeated the central bank remains in a ...