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The European Central Bank decided to cut rates for the first time since 2019

2024-06-05 12:59:22Kosova&Bota SHKRUAR NGA REDAKSIA VOX

The European Central Bank decided to cut rates for the first time since 2019

The European Central Bank this week is set to cut borrowing costs for the eurozone for the first time since September 2019.

This will mark the official end of the record-breaking cycle that began after the Covid-19 pandemic as inflation rose.

But investors' attention seems to have already shifted to what will happen after this June cut by the Frankfurt institution.

Eurozone inflation for May is slightly higher than expected with total inflation at 2.6% and core inflation at 2.9%.

Moreover, negotiated wage growth, a closely watched figure by the ECB, accelerated again in the first quarter to 4.7% after reaching 4.5% in the fourth quarter of 2023.

But while another rate cut in July cannot be ruled out, given recent comments from ECB policymakers, it does not seem very likely.

Next on this bumpy road would be the divergence between the ECB's own rate setting and the US Federal Reserve, which looks more like “higher for longer”.

This is not an easy task as it can have strong implications for the Euro-Dollar exchange rate which feeds inflation through prices for imported goods and services.


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