That fits with market expectations, with 37 bps worth of rate cuts priced in for April following the ECB meeting yesterday. It is slightly less than the near 50 bps that we got before the meeting, as the Lagarde & co. offered some light pushback to markets. The odds of a March rate cut priced in is currently at around 55%.
Barclays now sees the ECB delivering first 25 bps rate cut in April next year
- The firm also sees consecutive rate cuts by the ECB all the way through January 2025
