The ECB's second rate cut to 3.50% signals ongoing data-dependent monetary policy, focusing on inflation trends before making future rate decisions.
Policymakers commit to a meeting-by-meeting approach, not pre-committing to a specific policy path, keeping inflation developments central to decision-making.
The latest GDP growth expectations were revised down, reflecting downside growth risks and an overly-aggressive prior forecast for 2024.
Despite the rate cut, the ECB's September decision won't significantly impact financial markets or the eurozone economy, indicating a cautious approach ahead.
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