Citi Delays ECB Rate Cut Forecast, Now Expects Easing in September

According to a report by Jinse Finance, Citigroup expects the European Central Bank to keep interest rates unchanged this month and to cut rates in September, revising its previous forecast of a rate cut at next week’s meeting. Citigroup strategists stated in the report that they still anticipate two rate cuts by the ECB this year, but the timing has been adjusted to September and December, instead of the previously expected July and September. LSEG data shows that the probability of a rate cut in the eurozone before December is currently considered low by the currency markets. (Jin10)