ECB president Christine Lagarde said last week rates had likely reached their peak but that it was too soon to 'shout victory' on inflation. ECB president Christine Lagarde said last week rates had likely reached their peak but that it was too soon to "shout victory" on inflation, citing economic uncertainties and the possible impact of rising wages on price pressures. The ECB is "in no rush yet" to change course and governors may not even discuss cuts at this week's meeting, Deutsche Bank economists wrote. "We expect Thursday's ECB press conference to again highlight the exceptionally low possibility of a rate cut before the summer," agreed Unicredit in an analyst note. The 20-nation eurozone economy, feeling the pain from higher interest rates and weaker exports, shrank by 0.1 percent in the third quarter of 2023.
