UBS On-Air: Paul Donovan Daily Audio 'The ECB creaks toward a cutting cycle'
UBS On-Air: Market Moves · Podcast owner
June 7, 20242m 40s
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Show Notes
As expected, the ECB offered a 0.25-percentage-point rate cut, with general vagueness about the future. The rationale was also as expected—interest rates are following inflation lower. Applying the ECB’s logic to the likely path of the economy, another couple of rate cuts seem likely this year, but Lagarde was not prepared to signal that strongly at yesterday’s press conference.