Important note from the ECB Minutes released today. The ECB is looking to push back against the market's rate cut expectations for 2024. Members expressed concern that rates falling too low could ease financial conditions too much as the disinflation job is not finished. Directly from the Minutes:
"Concern was expressed that the sharp market repricing threatened to loosen financial conditions excessively, which could derail the disinflationary process... it was widely regarded as important not t...