CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

The ECB's Kazimir suggested a June meeting for the first interest rate cut ✂

15:07 11 March 2024

European Central Bank (ECB) Governing Council member Peter Kazimir emphasized the need for caution before implementing a rate cut, suggesting that the ECB should wait until June for its first reduction. Kazimir highlighted that there are still upside risks to inflation, which are "alive and kicking," and stressed the importance of gathering more hard evidence on the inflation outlook. He believes that by June, the ECB will have enough confidence and crucial data to make an informed decision. He favors a "smooth and steady" approach to policy easing, indicating that discussions on easing have already begun and will continue in the coming weeks.

Despite the ECB keeping interest rates at record high levels last week, Kazimir expressed growing confidence that inflation is on a downward trajectory. However, he warned that wage pressures are still too high and highlighted potential risks such as looser fiscal policy, rising natural gas prices and the cost of the green transition. Markets expect four interest rate cuts this year, starting in June. Most policymakers reportedly favour a June rate cut, with some even considering an additional move in July.

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EURUSD lost 0.15% to 1.0918 at the time of publication. However, in the last few weeks, a stable upward trend has been observed in this currency pair, supported by a weaker dollar and a slight strengthening of the euro. Last week, EURUSD pulled back in an attempt to break through the 1.10 level, which is currently still ongoing. If the bulls manage to hold the 1.0870 level, the upward trend will be maintained, and the next range of the upward movement will still be the area above 1.1000.

Source: xStation 5

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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