What is the significance of distinguishing between a cyclical turn and a recession?
ECB's Ability to Raise Rates in 2019 Questionable, de Longis Says

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2.
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How has the cyclical turn manifested globally according to the text?
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What are the reasons for the ECB's decision to maintain its current policy?
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What concerns are raised about the ECB's ability to adjust policy in the near future?
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What is the forecast regarding growth and its impact on monetary policy next year?
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