ECB cuts interest rates 25bps to 3.5%
Industry commentators anticipate one more cut by the ECB this year
Industry commentators anticipate one more cut by the ECB this year
ECB president calls for closer ties to tackle ‘existential threat’ to EU
However there is great variation across the region
Further interest rate reductions in 2024 are expected to increase transactional activity
Markets were assigning a 92% probability of the ECB holding rates prior to today’s meeting