This adds to the remarks from Lagarde and Rehn earlier. For the ECB, it's now all about watching for Trump's tariffs and what will take place after. That will shape their expectations for the next policy decision on 17 April. As things stand, traders are pricing in ~79% odds of a rate cut.
ECB's Schnabel: Trade fragmentation is structurally harmful for economic growth, inflation
- Remarks by ECB executive board member, Isabel Schnabel
