ECB rate cut in June looking more certain, what follows less so [Reuters]
ING Group, N.V. (ING)
US:NYSE Investor Relations:
ing.com/investor-relations.htm
Company Research
Source: Reuters
Reuters poll, but only a tiny majority now expect cumulative cuts of 100 basis points or more in 2024. Although several ECB policymakers have supported rate reductions, most likely in June, President Christine Lagarde said the bank could not commit to following a first cut with more. The speed of cuts is likely to depend largely on economic data, particularly inflation, still above the 2% target at 2.6% in February. Wage growth will also play a role. All 77 economists in the March 25-28 Reuters poll expected the ECB to keep the deposit rate unchanged at 4.00% on April 11. Roughly 90%, 68 respondents, forecast the first cut would come in June. That is in line with market pricing, and an increased majority compared with last month's survey. "The central bank has clearly signalled June is the most likely timing for the first rate cut, but the path thereafter remains highly uncertain and the pace of easing will be totally data-dependent," said Marco Valli, chief European economi
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- Inflation Data Reinforce Powell's Shift Toward High for Longer [BNN Bloomberg (Canada)]BNN Bloomberg
- Rupee to see muted reaction to US inflation flare-up [Reuters]Reuters
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