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PIMCO forecast another two European Central Bank rate cuts this year, September & December

PIMCO says the next moves from the ECB will be decided by data flow over the coming months. In brief:

we envision the ECB to keep cutting rates at staff projection meetings market pricing seems reasonable and broadly in line with our long-held baseline of three cuts for this year we expect additional cuts in September and December

PIMCO acknowledge that risks are skewed towards fewer cuts, mainly on the back of

sticky services inflation, a resilient labour market, loose financial conditions and ECB risk management considerations.

Pacific Investment Management Company (PIMCO) is a US firm that manages circa US$2 trillion in assets

From the weekend, the ECB is cranking up ‘protect the euro’ comments (IMO anyway):

ECB’s Holzmann says further rate cuts by the Bank could slam EUR and spike inflation

This article was written by Eamonn Sheridan at www.forexlive.com.

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