France Stalls the ECB’s Perfect Landing
European banks are doing well and eurozone inflation expectations have been slain. Quel dommage about the French.
Complicating things.
Photographer: Jerome Gilles/NurPhoto/Getty Images
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While the furor over the Federal Open Market Committee’s next meeting reaches an ever greater crescendo, Thursday’s European Central Bank gathering has long seemed done and dusted. It’s finished cutting and now it’s on hold. Anything else would be a black swan. Market estimates for the policy rate at the end of this year took a dive after Donald Trump’s “Liberation Day” tariffs on April 2, but they’re now barely changed from Jan. 1: