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: Markets take a breather (03.06.2026)
BREAKING: ISM Non-Manufacturing PMI above expectations
BREAKING: ADP above expectations! 📈
Economic calendar: PMI reports and the US labor market in the spotlight 🔎