2024-04-12 03:37:00 ET
Summary
- The European Central Bank has kept all policy interest rates unchanged. Inflationary pressures have further decreased, enabling the ECB to be very explicit about next steps.
- The ECB’s assessment of the eurozone economy has not changed since the March meeting.
- Even if the policy announcement does not explicitly mention June as the moment for a first rate cut, we think that today’s meeting should mark the final stop before the cut.
By Carsten Brzeski , Global Head of Macro
ECB President Christine Lagarde’s comments at today’s press conference suggest that the timing of the first rate cut is not a done deal yet – and that it’s going to be a hawkish move as concerns about inflation reaccelerating remain ...
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ECB's Press Conference Signals Its First Cut Will Be Hawkish