The view put out by Citi is precisely what markets are also pricing in now for the ECB. Here is the change as compared to one week ago before the ECB meeting yesterday, with the current implied interest rate being at ~3.88%:
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ECB to begin rate cuts in June 2024 - Citi
ECB to begin rate cuts in June 2024 - Citi
- The firm had previously forecast the ECB to only start cutting rates in September 2024
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