Goldman Sachs says ECB will prepare for Europe’s growth in 2025 with cuts and signals of action
Goldman Sachs said the European Central Bank will cut interest rates by 25 basis points on Thursday and hinted at further cuts to prepare Europe for stronger economic growth in 2025.
“We do think the ECB will move gradually… but I do think there will be some recognition today that rates are heading lower,” Europe’s chief economist Jari Stehn told CNBC before the decision.
He added: “Lower interest rates will go some way towards helping savings and increasing consumer spending, which is one of the reasons we do think Europe will grow next year.”
CNBC Pro: Analysts raised price targets on these 5 stocks ahead of earnings next month
Analysts raised price targets on these 5 stocks ahead of earnings next month
At least ten Wall Street analysts turned bullish on four of the five stocks ahead of their quarterly earnings reports.
CNBC Pro subscribers can read more here.
— Ganesh Rao
European Markets: Here are the opening calls
European markets are expected to open mixed on Thursday.
British FTSE 100 The German stock index is expected to open 10 points higher at 8,308 German DAX Index France fell 12 points to 20,398 CAC Up 11 points to 7,437 points, Italy FTSE MIB It rose 67 points to 34,787, according to IG data.
The European Central Bank and the Swiss National Bank both announced monetary policy decisions today. No major profits are expected.
— Holly Elliot
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