Eurozone Inflation Hits 2.6% in May, Rate Cut Still Expected
TL;DR Summary
Euro zone inflation rose to 2.6% in May, but market expectations remain firm on an interest rate cut from the European Central Bank next week. Despite the higher-than-expected inflation print, core inflation also increased slightly. The ECB is anticipated to cut rates at its June 6 meeting, marking the first reduction since 2019, with further cuts expected in 2024. The euro held steady against the U.S. dollar and British pound following the news.
- Euro zone inflation rises to 2.6% in May, but bloc still seen heading for interest rate cut CNBC
- Eurozone inflation rises to 2.6% in May Financial Times
- Inflation ticked up in Europe in May. That likely won’t stop a central bank rate cut next week WOODTV.com
- Eurozone Inflation Rises More Than Expected In May To 2.6% Barron's
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