ECB: Rate Cuts Are Coming
The ECB on Thursday effectively confirmed that the Governing Council's prepared to cut rates in June, contingent on its evaluation of inflation dynamics.
"Inflation has continued to fall, most measures of underlying inflation are easing, wage growth is gradually moderating and firms are absorbing part of the rise in labor costs in their profits," the new statement read, on the way to noting that if the situation continues along the current trajectory, "it would be appropriate to reduce the curr
The S&P 500 is all of 1% off its highs, and US strategists are pushing out the first rate cut to late 2H, I even see some “first cut in December” calls.
Looks possible that 2024 rate cut expectations may be eliminated at the cost of a handful of percentage points on the index.