- Must carefully monitor all factors that could hinder return to 2% target
- Weak euro area economy and geopolitical tensions contributing to containing inflation
- But increased uncertainty, especially contradictory US policy announcements, calls for caution on rates
As you would expect, they're still not giving anything away and not pre-committing to anything before Trump's tariffs are announced later this week. But markets are largely convinced of a rate cut in April, with odds of that now sitting over 90%.
