A week just as expected?

After the publication last Wednesday of the U.S. inflation figures well in line with expectations, the ECB made a largely anticipated announcement of another 25 basis points cut in its key interest rate. Besides, during the press conference, President Christine Lagarde did not specify the pace of future rate cuts or the targeted landing zone. We continue to forecast 25 basis points cuts at the upcoming meetings of the Governing Council until the deposit rate reaches 2% by June 2025 . Additionally, the Chinese government also remained vague about its plans to support the economy, announcing a more accommodative policy mix that will rely more on fiscal policy, with details to be provided in Q1 2025. I n France, President Emmanuel Macron name d today his key centrist ally François Bayrou as new P rime minister while a mong the surprising decisions, the Swiss National Bank (SNB) opted to cut rates by 50 basis points .