Barclays no longer sees the ECB cutting rates in September

8 months ago 38

RoboForex - professional services on Forex market

The firm pencils in just one more rate cut for the year, that being in December

Ahead of the July meeting, Barclays saw two rate cuts for the ECB left for this year - one in September and one in December. Their terminal rate forecast was 1.50%, driven by "average US tariffs on EU imports of circa 15% and risks of medium-term inflation undershooting".

While the tariffs imposed by Trump seems to be matching their assumption, Barclays is still removing their call for a September rate cut. I reckon they look to be swayed by Lagarde's press conference and the ECB sources leak after it would seem.

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