Most commentators and investors have concluded that yesterday’s ECB meeting signalled that an April rate cut is a near certainty. We disagree. While an April rate cut is still our base case, the risks are now skewed towards June. Meanwhile, we expect to learn next week that core and headline inflation were little changed in the euro-zone in January and that the economy entered recession in Q4.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.