European Central Bank (ECB) President Lagarde stated that the financial stability outlook remains fragile and that the inflation path is flatter than before, with upside risks including geopolitical tensions. The ECB forecasts 2024 inflation at 2.7%, down from the prior forecast of 3.2%. US Treasury Secretary Yellen expects inflation to reach the 2% range by the end of 2024, with Fed officials seeing inflation at 2.4% in 2024, returning to the 2% target in 2026. The ECB left interest rates unchanged, with no discussions about rate cuts. ECB's Villaroy expressed confidence in lowering interest rates and getting inflation back toward 2% by 2025, while ECB's Kazimir stated that he's more confident inflation will hit 2% in 2025. Villaroy also mentioned that the lowering of interest rates should happen in 2024, and that the ECB will not raise interest rates anymore.
π΄ ECB'S KAZAKS: RATES NEED TO STAY AT THE CURRENT LEVEL FOR SOME TIME.
Villeroy says the ECB should cut rates in 2024 after plateau https://t.co/9xxVumlY7T via @whorobin https://t.co/qqXJ0Stklk
π΄ ECB'S VILLEROY: CUTTING RATES TOO SOON WOULD RISK INFLATION RETURNING.
ECBβs Villeroy: we will not raise interest rates anymore.
π΄ ECB'S VILLEROY: THE LOWERING OF INTEREST RATES SHOULD HAPPEN "SOME TIME" IN 2024.
π΄ ECB'S VILLEROY: WE WILL NOT RAISE INTEREST RATES ANYMORE.
π΄ ECB'S VILLEROY: WE WILL BE ABLE TO LOWER INTEREST RATES.
π΄ ECB'S VILLEROY: INFLATION WILL BE AT 2% BY THE END OF 2025.
π΄ ECB'S KAZIMIR: INFLATION SLOWDOWN ISN'T ENOUGH TO DECLARE VICTORY.
πͺπΊ ECB'S KAZIMIR: PREMATURE EASING WORSE THAN HOLDING TOO LONG πͺπΊ ECB'S KAZIMIR: INFLATION SLOWDOWN NOT ENOUGH TO DECLARE VICTORY
π΄ ECB'S KAZIMIR: I'M MORE AND MORE CONFIDENT INFLATION WILL HIT 2% IN 2025.
π΄ ECB'S CENTENO: INFLATION HAS BEEN DECLINING FASTER THAN IT ROSE.
π΄ ECB'S HOLZMANN: THERE WERE NO TALKS ABOUT RATE CUTS.
π΄ ECB'S VILLEROY: THE NEXT POLICY MOVE SHOULD BE A LOWERING OF RATES "UNLESS THERE ARE SURPRISES".
π΄ ECB'S VILLEROY: 2.1% INFLATION EXPECTATION FOR 2025 WILL "ALSO BE THE CASE FOR FRANCE".
π΄ ECB'S VILLEROY: NOBODY SUGGESTED RATE CUTS AT THE LAST MEETING.
π΄ ECB'S VILLEROY: THE ECB WILL GET INFLATION BACK TOWARD 2% BY 2025.
π΄ ECB'S MULLER: WE HAVEN'T YET HAD THE DISCUSSION ON RATE CUTS.
WATCH - 'We did not discuss rate cuts at all': European Central Bank leaves interest rates unchanged https://t.co/IYs8vBim6g https://t.co/OSsnNdi2t9
'We did not discuss rate cuts at all': European Central Bank leaves interest rates unchanged https://t.co/mzGKzdvMKi https://t.co/uND6DiWhUQ
π΄ ECB FORECASTS SHOW INFLATION AT 2% IN 3Q/2025.
π΄ ECB'S PRESIDENT LAGARDE: WE DON'T HAVE A RECESSION IN OUR BASELINE.
π΄ ECB'S PRESIDENT LAGARDE: WE DON'T THINK IT'S TIME TO LOWER GUARD, THERE'S STILL WORK TO BE DONE. THIS CAN TAKE FORM OF HOLDING RATES.
π΄ ECB'S PRESIDENT LAGARDE: WE DID NOT DISCUSS RATE CUTS.
π΄ ECB'S PRESIDENT LAGARDE: DOMESTIC INFLATION IS HARDLY BUDGING.
π΄ ECB'S PRESIDENT LAGARDE: A LOT OF INDICATORS SHOWING UNDERLYING INFLATION BELOW EXPECTATIONS.
π΄ ECB'S PRESIDENT LAGARDE: THE INFLATION PATH IS FLATTER THAN BEFORE, LOWERS RISK OF EXPECTATIONS DE-ANCHORING.
π΄ ECB'S PRESIDENT LAGARDE: THE FINANCIAL STABILITY OUTLOOK REMAINS FRAGILE.
π΄ ECB'S PRESIDENT LAGARDE: INFLATION MAY SURPRISE ON DOWNSIDE IF MONETARY POLICY DEPRESSES ACTIVITY MORE THAN EXPECTED.
π΄ ECB'S PRESIDENT LAGARDE: UPSIDE RISKS TO INFLATION INCLUDE GEOPOLITICAL TENSIONS.
π΄ ECB'S PRESIDENT LAGARDE: RISKS TO GROWTH ARE SKEWED TO THE DOWNSIDE.
π΄ ECB'S PRESIDENT LAGARDE: MOST MEASURES OF LONGER-TERM INFLATION EXPECTATIONS CURRENTLY STAND AT AROUND 2%.
π΄ ECB'S PRESIDENT LAGARDE: IN DECEMBER, INFLATION LIKELY TO PICK UP. INFLATION IS TO DECLINE MORE SLOWLY IN 2024.
π΄ ECB'S PRESIDENT LAGARDE: THE INFLATION DECLINE WAS BROAD-BASED.
π΄ ECB'S PRESIDENT LAGARDE: TIGHTER FINANCING CONDITIONS ARE TO WEIGH ON THE ECONOMY.
Breaking news: The European Central Bank has left interest rates unchanged and given few indications of when it might start to cut borrowing costs https://t.co/qYGcT3Zy1A https://t.co/1bHoUBh2vq
πͺπΊ ECB FORECASTS 2024 INFLATION AT 2.7%; PRIOR FORECAST 3.2%
π΄ ECB: ACCORDING TO LATEST EUROSYSTEM STAFF PROJECTIONS FOR EURO AREA, INFLATION IS EXPECTED TO DECLINE GRADUALLY OVER COURSE OF NEXT YEAR, BEFORE APPROACHING ECBβS 2% TARGET IN 2025.
π΄ ECB: OVERALL, STAFF EXPECT HEADLINE INFLATION TO AVERAGE 5.4% IN 2023, 2.7% IN 2024, 2.1% IN 2025 AND 1.9% IN 2026.
π΄ ECB'S NEW INFLATION PROJECTIONS: STAFF EXPECT HEADLINE INFLATION TO AVERAGE 5.4% IN 2023, 2.7% IN 2024, 2.1% IN 2025 AND 1.9% IN 2026.
π΄ ECB: WE SEE 2023 INFLATION AT 5.4%; PRIOR FORECAST 5.6%.
π΄ FED OFFICIALS SEE INFLATION AT 2.4% IN 2024, RETURNING TO 2% TARGET IN 2026.
πΈ Fed Officials See Lower Inflation, Slower GDP Growth in 2024 πΈ Fed Officials See 0.75 Pct-Point Rate Cuts in 2024 πΈ Fed Officials See Additional Rate Cuts in 2025, 2026
πΊπΈ JANET YELLEN: WE ARE LIKELY TO REACH INFLATION IN THE 2% RANGE AT THE END OF 2024
π΄ US TREASURY SECRETARY YELLEN: WE ARE LIKELY TO REACH INFLATION IN 2% RANGE AT END OF 2024.
π΄ US TREASURY SECRETARY YELLEN: I EXPECT INFLATION TO CONTINUE TO COME DOWN AND INFLATION RATES BEGINNING WITH THE NUMERAL 2 BY THE END OF 2024.