Prior +2.2%Core CPI +2.4% vs +2.4% y/y prelimPrior +2.7%
No changes to the initial estimates as the further easing in price pressures allows for more flexibility on the ECB’s part going into the summer. As things stand, markets are only pricing in ~21 bps of rate cuts by year-end currently.
This article was written by Justin Low at www.forexlive.com.