CORRECTION: Invesco Ltd: Form 8.3 - Anglogold Ashanti PLC ; Opening Position Disclosure
Invesco expects the European Central Bank to cut interest rates by another 25 basis points before the end of the year.
Invesco Asia-Pacific (excluding Japan) global market strategist Zhao Yaoting stated that the European Central Bank announced a cut in the deposit rate by 25 basis points to 3.5%, which is in line with market expectations. Due to weak internal demand in the European market, the European Central Bank only slightly raised the core inflation forecast for 2024 by 0.1 percentage points to 2.9%, while slightly lowering the GDP forecast for this year to 0.8%. Looking ahead, Invesco will continue to monitor the service industry and inflation rates within the European market, as the relevant data remain high. Zhao Yaoting still expects that with the continuous slowdown in wage growth and pressure on profits, the European Central Bank will cut interest rates again by the end of the year by another 25 basis points.
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