Interest rate cut prediction from Europe's hawkish official

German Central Bank President and European Central Bank Governing Council Member Joachim Nagel has predicted the possibility of a rate cut before the summer holidays. While the European Central Bank (ECB) kept interest rates steady in line with market expectations at its latest meeting, new messages are coming from ECB officials following the signals from ECB President Christine Lagarde’s statements. Known as one of Europe’s hawkish figures, German Central Bank President Joachim Nagel stated that officials could cut interest rates before entering the summer break. Nagel told the table.media podcast, “The likelihood of us seeing a rate cut before the summer break is increasing. This will depend on the data, but expectations have become clearer.” The ECB’s calendar schedules interest rate meetings on April 11, June 6 and July 18. After the meeting on July 18, no meeting will take place until September 12. Nagel said the following in his statement: The last mile of monetary policy is generally difficult, you have to stay calm, you can’t get too excited by claiming that you have overcome inflation too early.