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22nd May 2024 14:56EurozoneDaily Monitor

  • The June rate cut is safe, but sticky Q1 negotiated wage growth will prevent another one in July. 
  • We now see the ECB easing by 25bp in June, September, October and December; no cuts in 2025.
  • The May EZ PMIs add to our conviction that EZ GDP growth is continuing its tepid rebound in Q2.

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Keywords for: 24 May 2024 Eurozone Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence