European Central Bank: It is increasingly unlikely to raise interest rates again in the next few months

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The services PMI, the euro zone’s most reliable economic barometer, fell again by 0.9 points in October to 47.8. As a result, the index has been clearly in recession for three consecutive months. The manufacturing index is at 43.0, with no hope of improvement either.

The European Central Bank may further cut its economic outlook. In its September forecast, the ECB still believed the euro zone economy would avoid recession. As a result, further increases in the key interest rate are increasingly unlikely.