At 12:00 pm GMT, the ECB's Minutes of the last interest rate meeting were published. Here are the most important comments contained in the document:
- March inflation projection for 2024 likely to be lowered
- Risk of cutting rates too early was still seen as outweighing that of cutting too late
- Measures of underlying inflation had passed their peak
- Latest economic activity and inflation consistent with current monetary policy stance
- But further progress needed to be made in the disinflationary process
- Continuity, caution and patience were still needed
- While the probability of a 25 basis point cut in April still stood at around 60%, a first cut was now fully priced in only for June
EURUSD pair does not overreact to today's Minutes reading
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