Italian central bank slashes 2024 inflation forecast in another sign of coming rate cuts ...Middle East

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Italian central bank slashes 2024 inflation forecast in another sign of coming rate cuts
The market is increasingly comfortable with a June ECB rate cut and the door is cracked open to moving in April. Pricing is 99% for June right now and just 8% for April.Given that there is less than a week until the April 11 decision, that's not a big surprise. Perhaps the better debate is how quickly the ECB continues to cut after June. Right now, July odds are at 59% and that will be a spot to watch.The latest comes from the Bank of Italy, which is a sign of which way the wind is blowing. Their updated forecast for 2024 HICP inflation is 1.3% compared to 1.9% in December. The 2025 forecast was also lowered to 1.7% compared to 1.8%.On the growth side, the GDP forecast was unchanged at 0.6%

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