(Reuters) – J.P.Morgan on Friday brought forward its expectations for the start of interest-rate cut by the European Central Bank (ECB) to June from September.
The brokerage now expects 100 basis points (bps) of rate cuts by the end of the year compared to 75 bps expected earlier.
“To avoid raising the number of cuts from three to five, we assume that the ECB skips July and then starts back-to-back cuts in September,” J.P.Morgan economists said in a note.
(Reporting by Roshan Abraham in Bengaluru; Editing by Arun Koyyur)
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