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Simkus Echoes Villeroy In Seeing Pricing Of Two More Cuts in 2024 As Appropriate

ECB
  • Speaking in Vilnius, ECB’s Simkus agrees with market pricing for two more cuts in 2024, adding to Villeroy this morning saying market expectations seem “rather reasonable”.
  • (Recall, Bloomberg sources yesterday said policymakers are increasingly wondering if they may only be able to cut interest rates once more this year).
  • Bloomberg headlines report him saying there’s no doubt the topic of a cut will be discussed in September and that barring shocks, more easing is “undoubtedly” on the table.
  • He expects the economic expansion to likely be weaker than forecast and see a bumpy inflation path converging towards 2% in 2H25.
  • However, services inflation is still very strong and he sees no reason for cuts to exceed 25bps at a time.
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Fixed Income BulletsHomepagemarkets-real-timeCreditBulletMarketsEmerging Market NewsForeign Exchange Bullets

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