ECB not yet sufficiently confident
As expected, the ECB Governing Council left key interest rates unchanged at the meeting that ended today. However, the ECB economists' new forecasts for inflation in 2024 and 2025 and for economic growth in 2024 were lower than the previous forecasts in December. According to these new forecasts, inflation will therefore approach the ECB's target more quickly. This improves the basis for interest rate cuts, all the more so as the forecasts for core inflation, which excludes energy and food prices, have also been lowered.
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