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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessGoldman Sachs No Longer Expect Back-to-Back ECB Rate Cuts in June/July
- In a note dated yesterday, Goldman Sachs revise their call for ECB policy and no longer expect a rate cut in July. They still see easing at the June meeting, and then quarterly cuts thereafter - meaning ECB will enact three 25bps cuts this year at the June, September and December meetings.
- They expect the ECB to maintain this pace across 2025, resulting in a terminal rate of 2.25% by year-end 2025. Goldman Sachs add that they see a 30% chance that stickier inflation in the Eurozone will mean the Governing Council shifts to semi-annual rate cuts after June, but also see a notable risk of faster moves on policy, assigning a 15% chance of back-to-back cuts due to quicker disinflation and deeper cuts should the labour market weaken sharply (10%).
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.