ECBs Villeroy
- Inflation could be at target in early 2025
- The ECB is not behind the curve but risk of cutting rates too late is bigger than cutting too early
- No reason for rates to stay restrictive in 2025
Lagarde was a bit more dovish today and these comments are as well. I don't think that puts 50 bps on the table yet but the Dec 12 meeting is a ways away.
