- Data very clearly shows disinflation
- But the road ahead is bumpy
- If the trend matches ECB forecasts, there will be more rate cuts
They're continuing to keep that door open but at the same time, they're also playing coy in preaching their data dependent stance. It sure looks like there is a mix of opinions at the ECB at the moment. But one thing is for certain, it is that there will be no follow up rate cut in July at least.
