MNI BRIEF:BOJ Q1 Output Gap Hits 16th Negative Reading In Row

MNI: PBOC Sets Yuan Parity Higher At 7.1312 Weds; -0.34% Y/Y

MNI: PBOC Net Drains CNY248 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1312 WEDS VS 7.1291

MNI BRIEF: 'Noise' Driving Economic Deterioration- Campos Neto

Australia May Total Dwelling Approved +5.5%

Australia May Retail Trade +0.6%

MNI: AUSTRALIA MAY RETAIL SALES +0.6% M/M

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Nomura: Resilient Data Warrant Caution, Drop Call For July Cut

ECB VIEW
HomepageEuropean Central Bank (ECB) Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

Nomura have changed their ECB view, removing expectations for a 25bp cut in July. However, they maintain their terminal rate call of 2.50%.

  • They now look for 25bp cuts in June, September, and December of this year, with further 25bp cuts in March, June and September of next year.
  • In terms of drivers of the view change, they flag “the labour market and wages have been resilient, services inflation is sticky, economic growth is strengthening and ECB-speak has turned more hawkish.”
79 words

To read the full story

Close

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.

Nomura have changed their ECB view, removing expectations for a 25bp cut in July. However, they maintain their terminal rate call of 2.50%.

  • They now look for 25bp cuts in June, September, and December of this year, with further 25bp cuts in March, June and September of next year.
  • In terms of drivers of the view change, they flag “the labour market and wages have been resilient, services inflation is sticky, economic growth is strengthening and ECB-speak has turned more hawkish.”