Introduction: European Central Bank expects rate cut today
good morning. Welcome to our regular coverage of business, financial markets and the global economy.
A welcome slowdown in global inflation is paving the way for central banks to cut interest rates, and today's focus is on european center bank.
of E.C.B. is expected to cut interest rates for the third time this year, making it the second such cut. bank of england. Policymakers are under pressure to cut interest rates after estimates suggest inflation in the euro zone will be lower than expected. E.C.B. Achieving the 2% target in September (final values also available today).
Economists predict that E.C.B. The governing board met today in Ljubljana, Slovenia, and plans to cut the deposit interest rate by a further quarter of a percentage point to 3.25%. president Christine lagarde The door to further rate cuts in December is also expected to remain wide open.
🇪🇺 #ECB It will likely accelerate rate cuts in the coming months to support the economy.
and #inflation Currently below 2%, analysts expect the ECB to cut deposit rates by a quarter of a percentage point at each meeting through March.https://t.co/JRSye3vfc4 pic.twitter.com/gWOIgfdCG5
— Jack Hoogland (@jack_hoogland) October 11, 2024
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Lower interest rates will be welcomed by businesses and consumers across the euro zone, as European countries such as Germany have struggled this year.
Last week, the Governor of the Central Bank of Greece Giannis Sturnaras Putting pressure on the board, it declared “very restrictive” interest rates could be lowered sooner than previously expected.
neil hutchison European Liquidity Strategy Portfolio Manager JP Morgan Asset Management, He says he would be surprised if the ECB did not cut rates today.
“With Halloween just around the corner, we don't expect any scary surprises from the ECB this week. The ECB is likely to cut rates by 0.25% following weak PMI business survey data.
The recent cooling in inflation statistics means that the burden of underlying price pressures has eased. With minimal pushback from ECB members, markets would be surprised if a rate cut does not materialize.
Beyond this meeting, concerns about a potential slowdown in growth and geopolitical tensions cast a Halloween haze on the outlook, despite strong wage growth and low unemployment. ”
agenda
-
10am (BST): Eurozone inflation forecast for September (final)
-
1.15pm BST: European Central Bank sets interest rates.
-
1:30pm BST: September US retail sales.
-
1:30 p.m.: Weekly U.S. unemployment claims.
-
1:45pm BST: European Central Bank press conference
-
Tonight: Annual City Banquet at Mansion House
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Uber, the Financial Times reports, has approached advisers in recent months to examine whether such a deal would be possible and how it could be structured.
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It would be Uber’s bigger acquisition yet, and give it access to new growth opportunities. However, the situation is still at an early stage, as a formal approach hasn’t yet been made to Expedia and the two sides aren’t in discussions.
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A deal would help Uber transform itself into a ‘super app’, offering users a wide range of services through a single application as Chinese tech groups such as WeChat already do well.
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Intriguingly, Uber’s CEO Dara Khosrowshahi was previously the chief executive of Expedia.
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Expedia’s shares have jumped by 7.2% in after-hours trading on Wall Street, while Uber’s shares have dropped by 2.9%.
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Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.
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The welcome slowdown in global inflation is clearing the way for central banks to pull down interest rates, and today the spotlight falls on the European Central Bank.
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The ECB is expected to make its third rate cut of the year today, putting it two cuts ahead of the Bank of England. Policymakers are under pressure to cut after eurozone inflation was estimated to fall below the ECB’s 2% target in September (we get the final reading today too).
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Economists predict the ECB will cut its deposit rate by another quarter-point today, to 3.25%, as its governing council meets in Ljubljana, Slovenia, today. President Christine Lagarde is also expected to leave the door wide open for another cut in December.
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🇪🇺 The #ECB will speed up rate cuts in the months ahead to bolster the economy.
With #inflation now below 2%, analysts see the ECB decreasing its deposit rate by a quarter-point at every meeting through March.https://t.co/JRSye3vfc4 pic.twitter.com/gWOIgfdCG5
— Jack Hoogland (@jack_hoogland) October 11, 2024
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With European countries such as Germany struggling this year, lower interest rates would be welcomed by business and consumers across the eurozone.
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Last week, Greece’s central bank governor Yannis Stournaras piled pressure on the governing council, dclaring that “highly restrictive” interest rates could be lowered faster than previously anticipated.
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Neil Hutchison, European liquidity strategies portfolio manager at J.P. Morgan Asset Management, says it would be a surprise if the ECB don’t cut today:
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\n
“With Halloween on the horizon, we’re not expecting any scary surprises from the ECB this week. Spooked by weaker PMI business survey data, the ECB is likely to deliver a 0.25% rate cut.
\n
Recent cooling in inflation data means they’re less burdened by potential price pressures. With minimal pushback from ECB members, markets would be surprised if a cut didn’t happen.
\n
Beyond this meeting, the outlook is currently enveloped in a Halloween haze, with concerns over a potential growth slowdown and geopolitical tensions, amid resilient wage growth and low unemployment.”
\n
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The agenda
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10am BST: Eurozone inflation estimate for September (final reading)
- \n
1.15pm BST: European Central Bank sets interest rates
- \n
1.30pm BST: US retail sales for September
- \n
1.30pm: US weekly jobless claims
- \n
1.45pm BST: European Central Bank press conference
- \n
Tonight: Annual City Banquet at Mansion House
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\n
\n
\n
\n
\n
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main events
This morning, a series of takeovers are happening in the City.
N Brown Group, The online fashion retailer has agreed to be acquired in a £191m deal led by its fourth largest shareholder. joshua alliance.
The recommended cash purchase price is valued at 40p per share, at a premium of nearly 50%. N Browns Last night's stock price closing price.
The share price soared to 38.5p this morning.
joshua alliance He owns 6.6% of the company's stock, with almost half owned by his father. main david alliance of manchesterpreviously the company's chairman [and also played a key role in the rescue of 20,000 Ethiopian Jews from Sudan].
Overall, alliance family concert party owns 53.4% of the stock and supports the transaction.
Mike Ashley's Frasers Group Own 20% – one of the following: Ashley There is a lot of interest in UK retailers.
Uber could develop 'super app' through bid on Expedia
Shares in Expedia, the nearly $20 billion U.S. travel booking website, are expected to rise today following reports that transportation and delivery company Uber is considering a possible acquisition.
Uber, Financial Times coveragehas approached advisers in recent months to explore whether such a deal is possible and how it could be structured.
Probably Uber's Make even larger acquisitions that give us access to new growth opportunities. However, the situation is still in its early stages as no formal approach has been made to Expedia and the two parties have not held any discussions.
A partnership could transform Uber into a “super app” that offers users a wide range of services through a single application, much as Chinese tech groups such as WeChat are already doing.
Interestingly, Uber's CEO Dara Khosrowshahi He was previously the CEO of expedia.
expedia's Shares rose 7.2% in after-hours trading on Wall Street. Uber's The stock price fell 2.9%.
Introduction: European Central Bank expects rate cut today
good morning. Welcome to our regular coverage of business, financial markets and the global economy.
A welcome slowdown in global inflation is paving the way for central banks to cut interest rates, and today's focus is on european center bank.
of E.C.B. is expected to cut interest rates for the third time this year, making it the second such cut. bank of england. Policymakers are under pressure to cut interest rates after estimates suggest inflation in the euro zone will be lower than expected. E.C.B. Achieving the 2% target in September (final values also available today).
Economists predict that E.C.B. The Governing Board met today in Ljubljana, Slovenia, and plans to cut deposit interest rates by a further quarter of a percentage point to 3.25%. president Christine lagarde The door to further rate cuts in December is also expected to remain wide open.
🇪🇺 #ECB It will likely accelerate rate cuts in the coming months to support the economy.
and #inflation Currently below 2%, analysts expect the ECB to cut deposit rates by a quarter of a percentage point at each meeting through March.https://t.co/JRSye3vfc4 pic.twitter.com/gWOIgfdCG5
— Jack Hoogland (@jack_hoogland) October 11, 2024
“}}”/>
Lower interest rates will be welcomed by businesses and consumers across the euro zone, as Germany and other European countries have struggled this year.
Last week, the Governor of the Central Bank of Greece Giannis Sturnaras Putting pressure on the board, it declared “very restrictive” interest rates could be lowered sooner than previously expected.
neil hutchison European Liquidity Strategy Portfolio Manager JP Morgan Asset Management, He says he would be surprised if the ECB did not cut rates today.
“With Halloween just around the corner, we don't expect any scary surprises from the ECB this week. The ECB is likely to cut rates by 0.25% following weak PMI business survey data.
The recent cooling in inflation statistics means that the burden of underlying price pressures has eased. With minimal pushback from ECB members, markets would be surprised if a rate cut does not materialize.
Beyond this meeting, concerns about a potential slowdown in growth and geopolitical tensions cast a Halloween haze on the outlook, despite strong wage growth and low unemployment. ”
agenda
-
10am (BST): Eurozone inflation forecast for September (final)
-
1.15pm BST: European Central Bank sets interest rates.
-
1:30pm BST: September US retail sales
-
1:30 p.m.: Weekly U.S. unemployment claims.
-
1:45pm BST: European Central Bank press conference
-
Tonight: Annual City Banquet at Mansion House
