The ECB conference call on the Central Bank's decision to cut the deposit rate by 25 basis points has just begun, in line with analysts' expectations. Below, you can find the main points made by President Lagarde:
- Appropriate to moderate degree of monetary policy restriction further
- Inflation expected to pick up in latter part of the year
- Recovery continuing to face some headwinds
- Expect recovery to strengthen over time as wages rise
- Demand for labor to moderate further
- Overall labor cost growth is moderating
- Profits partially offset higher labor costs
- Euro-zone growth risks are tilted to downside
- Financing costs remain restrictive
- Credit growth sluggish amid weak demand
- Inflation will drop to 2% in course of 2025
- Must be resilient in our approach
- Policy foot print in economy is visible
Wages are very important from the perspective of core inflation. Nevertheless, Lagarde does not point to major risks regarding a sudden recovery in this regard.
With no sign of any possibility of accelerated cuts, the lack of any signals for December is causing the euro to strengthen. Nevertheless, market volatility remains very low. EURUSD is testing the vicinity of 1.1030.
ساما يوجه البنوك بفتح حسابات لمتملكي العقارات غير المقيمين
عاجل: بيانات مؤشر ISM غير التصنيعي
السياحة السعودية بالربع الأول: قفزة في التراخيص بـ22.7 %... والمشتغلون يتجاوزون المليون
الاقتصاد العماني ينمو بـ2.6 % خلال الربع الأول
