The Lady’s Not for Turning?
by AIB Treasury Economic Research Unit
- The first policy setting meeting of the ECB’s Governing Council for 2024 saw the Central Bank maintain its key deposit rate at 4%, as expected
- Eurozone futures contracts softened in the initial aftermath of the press conference and currently (Friday lunchtime), the market is almost fully pricing in a first rate cut in April.
- The ECB also repeated that it will follow a data-dependent approach in making future monetary policy decisions and will ensure that rates are sufficiently restrictive for as long as necessary to restore price stability.
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