ECB Governing Council member and president of the Bank of France Francois Villeroy de Galhau said on Friday that a rate cut in the spring is very likely.
Villeroy says
- That spring may mean to be from April to June.
- There is a big consensus that interest rate cuts are coming.
- Timing is still a secondary issue.
It is worth noting that Lagarde yesterday did not give any hints about an early cut in the interest rate, so his statements are considered a bit surprising.
But it works both ways, and June is still the most likely schedule at the moment, as the prospects for an April rate cut remain at a meager 11% compared to the full rate cut scheduled for June.
