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Wages in Germany are growing rapidly, raising doubts about the timing of the European Bank's interest rate cut
Market analyst Martin Arnold wrote that German wages are growing at the fastest rate in nearly 10 years, indicating that the entire Eurozone economy is picking up, and makes people wonder to what extent the ECB will cut interest rates drastically this year. However, T Rowe Price analyst Tomasz Wieladek said, “This will pose a major challenge to the idea that the ECB will cut interest rates continuously. The ECB is still likely to cut interest rates in June, because this was basically announced in advance, and it is difficult to deviate from this forward-looking guidance at this stage.”
Singapore Inflation Data to Be Watched for Signs of Sticky Pressure -- Market Talk
Singapore inflation data for April is in focus, as markets look to see if inflation is tracking toward the central bank's comfort zone.
Singapore's Economy Grew at Faster Pace in First Quarter
Singapore's economy grew at a faster pace in the first quarter of 2024, as growth in sectors such as construction, wholesale trade, and retail trade overcame contraction in the manufacturing sector.
Bond Market Reaction to Likely ECB Rate Cut in June Expected to Be Muted
0620 GMT - Bond market reaction to an anticipated interest-rate cut by the European Central Bank in June is expected to be muted, Patrick Barbe, head of European investment grade fixed income at Neube
ECB President Lagarde: Inflation is gradually “under control” and interest rates will be cut in June
Lagarde said that with the rapid growth of inflation now largely under control, interest rate cuts next month are a probable event.
ECB's Lagarde Sees June Rate Cut With Inflation 'Under Control'
European Central Bank President Christine Lagarde indicated that an interest-rate cut is probable next month with the rapid gain in consumer-price growth now largely contained.
ECB official Nagel is optimistic about salary data
ECB Governing Council member Joachim Nagel anticipates a positive trend in Eurozone salary data, but urges caution about interest rates after a possible first rate cut in June.
Eurozone Trade to Boost GDP in 1Q, But Remain a Drag Ahead -- Market Talk
The eurozone's net trade in goods rose over the first quarter, boosting gross domestic product as the economy looks to recover through 2024, Pantheon Macroeconomics economist Melanie Debono says in a note.
Singapore's Consumer Price Growth Likely Steady in April, WSJ Poll Shows -- Market Talk
Singapore's consumer prices likely rose 2.7% on year in April, according to the median estimate of nine economists surveyed by The Wall Street Journal.
German Annual Producer Prices Down 3.3% in April
Producer prices of industrial products in Germany tumbled 3.3% year over year in April, after a 2.9% decline in March, the Federal Statistical Office said Tuesday.
European Central Bank Won't Wait for Fed -- Market Talk
There is now little doubt over the European Central Bank's willingness to start cutting interest rates ahead of the U.S. Federal Reserve, Capital Economics' Neil Shearing writes in a note.
ECB interest rate cut in June, Kazakhstan calls for caution in subsequent decisions
ECB Governing Council Member Martins Hazzaks stressed that the pace of interest rate cuts in the Eurozone should keep pace with the gradual slowing of inflation.
ECB's Kazaks Warns Against Hasty Interest-Rate Cuts After June
The pace of European Central Bank interest-rate cuts must match the gradual slowdown of euro-area inflation, according to Governing Council member Martins Kazaks.
Fitch Maintains Spain's Rating, Stable Outlook Amid Resilient Economy
Fitch on May 17 affirmed Spain's A- long-term foreign-currency issuer default rating, with a stable outlook, citing the country's economic resilience and an improving labor market.
Nomura's updated forecast: The Bank of Europe will cut interest rates in June and will not cut interest rates in July!
Nomura Securities adjusted its forecast for the ECB's monetary policy, abandoning previous expectations of interest rate cuts in July. The agency predicts that the ECB will cut interest rates continuously by 25 basis points in June, September, and December this year, followed by similar interest rate cuts in March, June, and September next year.
ECB Governing Council: June is the right time to cut interest rates and be open to the possibility of future action
ECB Governing Council member and Bank of Slovenia Governor Bostjan Vasle said on Friday that June may be the right time to start cutting interest rates and is open to subsequent actions.
ECB's Vasle Open to Possibilities After 'Reasonable' June Cut
European Central Bank Governing Council member Bostjan Vasle said next month is probably the appropriate moment to begin lowering interest rates and that he’s keeping an open mind on what to do after that.
ECB Could Cut Twice This Summer, Unless Oil Surges -- Market Talk
Two interest-rate cuts in two months could be on the cards for the eurozone unless oil prices spike and drive energy inflation higher, Claus Vistesen at Pantheon Macroeconomics writes in a note.
ECB's Schnabel Lobbies Against Back-to-back Rate Cuts
European Central Bank board member Isabel Schnabel pushed back on the idea of back-to-back interest rate cuts, saying inflation risks are still tilted to the upside.
ECB Executive Director Schnabel: There is no need to cut interest rates continuously in June and July and be wary of the risk of premature relaxation
ECB Executive Board member Isabel Schnabel warned against successive interest rate cuts in June and July.