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Bank of America changed its ECB forecast on Monday and now expects the next rate cut to come in October rather than December. The revision followed remarks by ECB President Christine Lagarde, who said policy makers were more confident inflation was under control and would consider it at their October meeting. Bank of America said the October cut would be followed by successive cuts that would take the deposit rate to 2% by June 2025, a quarter earlier than it had previously expected. It also expects quarterly ECB rate cuts in September and December 2025, which would bring the deposit rate down to 1.50%. That was the same level as the bank had previously expected, but six months earlier
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