Cutter remorse.
Despite the cut in rates today by 25 basis points:
- Some ECB hawks argued that committing to June rate cut too early was mistake
- A few ECB hawks said they might have supported holding rates if there had not been a commitment.
I guess they were concerned about the market reaction, but hours later they don’t worry about the reaction? SMH.
It’s official. The cut was a hawkish cut.
This article was written by Greg Michalowski at www.forexlive.com. Source