From Dow Jones & Company:

European Central Bank President Christine Lagarde hinted at a likely interest rate cut by the ECB this summer, citing data dependence and uncertainty. Lagarde’s comments were made in an interview with Bloomberg News, where she acknowledged that a majority of governing council members have expressed the likelihood of a rate cut. These statements are contrary to market expectations, which have already priced in a cut by April and two cuts by June. Lagarde’s statements come as the euro is down by about 1% this year, and the yield on the 2-year German bund rose by 3 basis points to 2.64%.



Read more: Lagarde, with a caveat, says ECB will likely cut interest rates this summer