The Governor of the Bank of Latvia and a member of the European Central Bank, Martins Kazaks has indicated that interest rate cuts in the Eurozone will not be necessary in the first half of 2024. This stands in stark contrast to market expectations, which aggressively expect the first cuts as early as next spring. Kazaks stressed that his position could change in the future if risks to price stability are more balanced.
Daily summary: Dovish Fed signals are driving optimism on Wall Street 🗽US2000 at all-time high
Fed chair Jerome Powell press conference🔎
BREAKING: Fed cuts interest rates by 25 bps🗽US100 gains
BREAKING: BoC holds interest rates unchanged🔎CAD with muted reaction