The ECB's Governing Council meeting for September saw the central bank leave interest rates on hold for a second consecutive meeting.
Overall, the updated batch of ECB forecasts paint a broadly similar outlook to those published in June.
In contrast, aimed further soft US labour market data, markets are fully pricing in a rate by the Fed this Wednesday, with attention now turning to the frequency and magnitude of cuts by the central bank in the months ahead.
Aside from the aforementioned Fed policy decision (25bps cut expected), the focus will be on the updated Summary of Economic Projections, including the interest rate dotplot.
