Oxford Economics: The European Central Bank may not cut interest rates in September

The ECB may not cut interest rates in September as inflation stabilizes at the ECB's target level, according to Oxford Economics. Data released last week showed that inflation stabilized at 2.0% in July. This could prevent the ECB's Governing Council from lowering borrowing costs again, which kept the deposit rate at 2.0% last month. While we still think inflation has eased in the coming months, we don't think there has been enough progress on inflation for the Committee to agree to another rate cut at that point. (Golden Ten)