2024/06/07 / Erste Group Research |
ECB cuts As had been widely expected, the ECB Governing Council today decided to cut the three key interest rates by 25 basis points (bp) to 3.75, 4.25 and 4.5%. It was clear from the press release that the ECB wants to keep speculation about further interest rate cuts in check. Reference was made to the continuing high price pressure and the still high wage growth. It was also confirmed that the Governing Council would decide from meeting to meeting and that decisions would depend on incoming data. Following today's decisions and statements, we continue to expect the next rate cut in September and two further rate hikes, also of 25bp, before the end of the year. |
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Author | Erste Group Research |
Date | 2024/06/07 |
Language | ![]() |
Product name | Short Notes Major Markets |
Topic in focus | Macro/ Fixed income |
Economy in focus | Eurozone |
Currency in focus | Euro |
Sector in focus | - |
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