Is the ECB going to signal an early 2024 rate cut? Markets prepare for December meeting

Via ING come their regular pre-European Central Bank meeting awesome Cheat Sheet. Keep this handy for December 14!

• Heading into the European Central Bank's December meeting, there is growing evidence that the Governing Council is split about the messaging being presented to markets. The generally arch-hawk Isabel Schnabel dropped strong dovish hints by ruling out rate hikes this week, and markets are now pricing in 135bp of cuts in the next 12 months. We see a good chance that the overall message at this meeting will fall short of endorsing aggressive rate cut expectations.

Earlier posts on whats to come from the ECB:

• Goldman Sachs forecasts first rate cut from European Central Bank (ECB) in April 2024,
• Deutsche Bank now sees the first ECB rate cut in April
• Traders have more or less priced in a rate cut by the ECB for March next year now