Lagarde opening statement: Q2 growth was likely slower than Q1

• More jobs were likely created in Q2, mainly in services
• Labour market is more resilient
• Expect recovery to be supported by consumption
• Most inflation measures were either stable or edged down in June
• Wages are still rising at an elevated rate
• Latest surveys indicate that wages will moderate over the next year
• Inflation expected to fluctuate around current levels for the remainder of the year, in part due to base energy effects
• Expected to decline to target in the second half of 2025
• Risks of economic growth are tilted to the downside

I don’t hear anything suggesting a rush to cut rates.

This article was written by Adam Button at www.forexlive.com.