ICYMI - Deutsche Bank forecast 3 European Central Bank rate cuts in 2024

Deutsche Bank has scaled back its expectations for ECB interest rate cuts in 2024 to three, from previously projecting five:

• expect 3 25bp rate cuts this year
• “We are updating our ECB baseline to a more gradual – and uncertain – easing cycle”

DB do expect 5 cuts in total, just later for the final 2:

• “We retain the same baseline terminal rate, but three quarters later than in our previous view.”

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Bloomberg reported the change of forecast on Tuesday EUR time.

Lagarde spoke overnight ICYMI too:

• ECB Pres. Lagarde: We will cut rates soon, barring any major surprises