ECB’s Nagel: June rate cut not necessarily followed up by a series of rate cuts

  • Services inflation remains high, driven by continued strong wage growth
  • Not fully convinced that inflation will actually return to target in a timely, sustained manner
  • Given the uncertainty, we cannot pre-commit to a particular rate path

The PMI data this week does help in that argument at least. But for now, one in June is very much a done deal.

This article was written by Justin Low at Source