安联Allianz：2025年欧洲央行再次暂停加息，美联储在劳动力市场和货币市场之间左右为难，信贷紧缩即将到来报告（英文版）

The ECB is set to hold rates for the third time in a row. The ECB is expected to keep its deposit rate unchanged at 2.0% at its next meeting on 30 October, which the Governing Council considers a neutral level. Inflation hovers slightly above target but the economy is barely growing. A simple Taylor rule would still justify further easing but key ECB policymakers have made it clear that they want to keep some dry powder and not cut further unless there is a strong risk for a significant devia