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ECB: Vujcic Sees March and April As Key, Especially For Services Inflation

ECB
BundesbankCentral Bank NewsEM BulletEuropean Central BankEmerging Market NewsCEEMEAEurozoneGermanyBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • Speaking on Bloomberg TV, ECB’s Vujcic offers a little more colour around yesterday’s comments that he doesn’t feel uncomfortable with market pricing.
  • He repeats that market bets on three rate cuts “not unreasonable” whilst adding that March and April will be key for a clearer picture on the rate path. The latter is primarily from a data perspective and services inflation in particular.
  • Tariff threats are a great source of uncertainty but US tariffs wouldn’t immediately trigger a 50bp cut when asked directly on the scenario.
  • He notes the ECB has already seen “some wage moderation” and expects this to continue in a trend that will help bring inflation down over time, consistent with central ECB communications. 
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  • Speaking on Bloomberg TV, ECB’s Vujcic offers a little more colour around yesterday’s comments that he doesn’t feel uncomfortable with market pricing.
  • He repeats that market bets on three rate cuts “not unreasonable” whilst adding that March and April will be key for a clearer picture on the rate path. The latter is primarily from a data perspective and services inflation in particular.
  • Tariff threats are a great source of uncertainty but US tariffs wouldn’t immediately trigger a 50bp cut when asked directly on the scenario.
  • He notes the ECB has already seen “some wage moderation” and expects this to continue in a trend that will help bring inflation down over time, consistent with central ECB communications.