From CNBC: 2024-06-06 11:53:00

Austria’s Holzmann dissented on ECB rate cuts, being the lone hawk against the decision. ECB President Lagarde confirmed the vote and praised the solidarity among the Governing Council members. Italy’s finance minister expressed hope for further rate reductions following Thursday’s decision. Euro zone bonds surged after the rate announcement, while the ECB revised its growth outlook for 2024. The move was met with mixed reactions, with some seeing future cuts as a long shot, while others view it as the start of a new phase in monetary policy. Lagarde is set to address reporters on the decision shortly in Frankfurt, Germany. Concerns linger about the uncertainty of future easing measures, as economists note a slightly hawkish stance in the ECB’s forecasts and statements. Despite acknowledging the decline in inflation expectations, the ECB emphasized robust domestic price pressures in its decision-making.



Read more at CNBC: European Central Bank cuts interest rates for first time since 2019