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SPEU - ECB Preview: 'One Is None' Or 'One And Done'?
SPDR® Portfolio Europe ETF
2024-05-29 09:15:00 ET
Summary
We expect a slight upward revision of growth and inflation for this year, but no changes to the profile and the timing of inflation dropping below 2%.
The ECB’s forecasts of inflation dropping below 2% and staying there from the second half of 2025 onwards give the ECB the room to gradually reduce rates in line with the market expectations included in the staff projections.
Any signs of reflation and also stronger economic activity would limit the ECB’s room for manoeuvre.