Europe is getting ready, without being triumphant
Friday 12th April 2024
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Christine Lagarde said a few members of the ECB were ready to cut rates now, even as the ECB President announced that, for now, rates will stay on hold. Was this the strongest suggestion yet that a June cut will happen? Phil asks NAB\u2019s Gavin Fiend what he took from the ECB meeting overnight. Meanwhile, US PMIs didn\u2019t help the case for those looking for signs of US prices falling faster. Quite the reverse. Bad news for the UK too, with one MPC member saying the BoE shouldn\u2019t cut before the Fed, although that simply supports NAB\u2019s base case that the BoE is some way away yet.
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