ECB’s Dovish Hold Sets the Stage for June Cut
by AIB Treasury Economic Research Unit
- While markets were largely unmoved by the ECB’s latest monetary policy statement, the tone of the statement and President Lagarde’s press conference was very much a dovish one.
- Lagarde had stated after the March meeting that the ECB will have a “little” data in April, but will have “a lot more” in June and “it matters because we are data dependent”.
- In this context, President Lagarde’s meeting statement contained a new additional sentence to reflect these developments and
set the scene for a June cut.
- Turning to the week ahead, a busy UK data schedule includes updates on inflation and the labour market.
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