News about ECB, rates

The ECB started its rate cuts with a 25bp move, but did not want to give clear signals about future steps. With inflation forecast to return to target and rates remaining restrictive, we think the next cuts will take place in September and December. corporate.nordea.com/article/93571/ecb-watch-first-slice-hold-the-seconds pic.twitter.com/ErRXoC6nDv

🇪🇺 A crucial chart for the ECB, with a very encouraging message: profit margins declined further in Q1, mitigating the rise in unit labour costs. That's exactly what the ECB wants to see going forward. 🧵 pic.twitter.com/9lNMCUuczU

🇪🇺 Quarterly ECB staff projections show inflation back at 2% in Q4 2025, one quarter later than in March. pic.twitter.com/jFj5Lhunro

The ECB and the FED had data surprises that reinforced the Hawks’ views. For the EA, the May inflation estimate gave an increase to 2.6%, and Services’ inflation went from 3.7% to 4.1%. For the US, jobs growth was 272K v. expectations of 185K, showing a strong economy. 1/