ECB’s Nagel: Policy is not auto pilot when it comes to rate cuts

This comes as the German central bank slashes its 2024 growth outlook to 0.3%, down from 0.4% previously. As for 2025, they are seeing growth of 1.1% – down from 1.2% previously.

They have also revised their inflation projections higher, mirroring the ECB yesterday. 2024 inflation is now seen at 2.8%, compared to 2.7% seen in December. And 2025 inflation is now seen at 2.7%, up from 2.5% at the end of last year.

This article was written by Justin Low at www.forexlive.com.