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Weekly Market Brief: All Kinds of Doves
- The recent ECB Forum on Central Banking saw the heads of the main central banks espousing similar musings on the economic outlook and elevated level of uncertainty that currently prevails.
- For the fourth consecutive meeting, the ECB cut rates by 25 bps in June.
- The Fed left rates on hold again in June, in a 4.25-4.50% range.
- Assessing the monetary policy outlook for the second half of the year, the market is anticipating the ECB Depo rate failing to 1.75% by year end.
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