Report
Markets opt for caution on rate cuts
This week was more focused on monetary policy, marked by the release of key macroeconomic figures influencing central bank decisions, as well as the minutes of recent ECB and Fed meetings. With the ECB keeping a close eye on wage dynamics in the Eurozone, wage growth eased slightly in Q4 2023, albeit remaining robust. The first-quarter figures, expected in the coming months, will therefore be decisive for the ECB, reinforcing the idea of a possible start to rate cuts as early as June. On the other hand, the Fed and ECB minutes confirmed the caution expressed at press conferences, underlining the data-dependent approach to rate cuts and the idea that it's better to wait than to rush. On the other hand, momentum was rather upward this week for rates and risky assets, supported by steadily receding expectations of rate cuts.
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Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Eya CHAMMAKHI
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