- I think we have passed the hardest and worst bit of inflation
- That doesn't mean we will have a smooth inflation decline
- I see eurozone inflation at 1.9% in 2025
- I cannot give a date when interest rates may go down
- I think rates have reached their peak
Given the lags in monetary policy, that 2025 forecast is important for rates in the back half of this year.
h/t to Paul for the meme.
