The ECB will publish new economic forecasts on Sept. 6 that council member Ewald Nowotny has said are likely to revise down the outlook for growth.
Economists are divided on whether the ECB will cut interest rates further.
The ECB shouldn’t rush fresh anti-crisis measures until governments demonstrate they’re willing to act as well to quell the turmoil, former ECB council member Athanasios Orphanides said in Jackson.
Draghi has an “opportunity” to hold back details of the ECB’s bond program, said Ed Lalanne, a strategist at Macro Risk Advisors in New York. “I don’t think there’s going to be a full plan.”
The UK manufacturing PMI has bounced sharply in August, rising to 49.5 from 45.2. The eurozone manufacturing sector contracted for the 13th month in a row in August.The manufacturing PMI for the whole eurozone rose to 45.1 from July's 37-month low of 44, according to the final data from Markit.
Business conditions worsened in most countries, with the exception of Ireland. Greece remained at the bottom of the league.
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