ECB's Nagel says not sensible to signal either pause or rate cut for the time being ...Middle East

It is not sensible to do so given the exceptional amount of uncertaintyECB is well advised to remain flexibleCurrent data and forecasts suggest mission accomplished for the ECBBut we must retain full optionality on interest rates

The central bank played their cards right in the last meeting, reaffirming that the job is still not quite done yet but they are flexible to choose to hold or continue down the same path again if needed. But for now, markets are not anticipating any rate cuts through the summer at least. The remainder of the year sees just ~20 bps of rate cuts priced in.

This article was written by Justin Low at www.forexlive.com.

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