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ECB Preview: Stocktaking

 

Next week’s ECB meeting is set to see few, if any, new policy signals, given the limited new information that has been released since the December meeting. We expect President Lagarde to confirm that the next policy rate change is most likely a cut, which may happen in summer. It remains to be seen whether the June meeting will be singled out as the key meeting to watch, similar to Lane’s comments this weekend. We expect Lagarde to repeat the three key criteria for setting the policy rates, which should point to the new staff projections in March as key.

Markets are pricing the first ECB policy rate cut for April, and a total of 135bp through to the end of 2024. The policy rates are priced to trough at 2% in two years’ time.

The post ECB Preview: Stocktaking appeared first on Action Forex.

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