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The ECB kept rates unchanged on Thursday but altered its forward guidance amid deteriorating economic data in the euro zone.
Market players will be looking out for any comments from the central bank's chief — who is nearing the end of his tenure — on signs of economic weakness in the euro zone and policy guidance.
Traders have increased their bets of late that both the ECB and the Fed will be forced to ease policy more aggressively as economic indicators point to slowing global growth and the U.S.-China trade war rumbles on.