Policymakers kept all settings unchanged, maintaining the deposit rate at 3.75%. Forward guidance was a 'cut and paste' of prior decisions, emphasizing data-dependent approaches for future moves.
The Governing Council highlighted an assessment based on inflation outlook, underlying dynamics, and policy transmission strength for future decisions, hinting at potential 25bp cuts in September and December.
The ECB decision aimed to maintain stability pre-summer break but signaled readiness for the next cycle cut soon, aligning with market expectations.
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