AFS Group Research Director Arne Petimezas said that the ECB cut interest rates by 25 basis points as scheduled, and there were no surprises in inflation and economic assessments. However, prior to the resolution, I had anticipated that the ECB would remove the phrase “not on a specific interest rate path” from the statement and instead acknowledge being in an easing cycle. But surprisingly, it didn't.

AFS Group Research Director Arne Petimezas said that the ECB cut interest rates by 25 basis points as scheduled, and there were no surprises in inflation and economic assessments. However, prior to the resolution, I had anticipated that the ECB would remove the phrase “not on a specific interest rate path” from the statement and instead acknowledge being in an easing cycle. But surprisingly, it didn't.