- Things are moving in the right direction
- Disinflation is working
- But not going to comment on rate cut for April
The narrative so far is that they’re still not putting out a firm conviction for next month. But at the balance, markets are still siding with a likelihood the ECB will be cutting rates again. The money market pricing shows a ~65% probability of that, not much changed at all from before the PMI data today. Trump tariffs on 2 April will be a key consideration but also the next Eurozone CPI report on 1 April.
This article was written by Justin Low at www.forexlive.com.
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