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Consumer sentiment plunged to the lowest level in six months as price increases reaccelerated, according to the latest University of Michigan survey of consumers, released Friday. Additionally, consumers are bracing for even higher price increases in the year ahead compared to readings from prior months, the survey found. The gauge, which is closely tracked ...
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Ms Schnabel noted that since the Governing Council’s previous monetary policy meeting on 6-7 March 2024 financial markets had started to price in some divergence between the monetary policy paths expected in the euro area and in the United States. This was reflected in a widening interest rate differential. In the United States, a series of solid economic data releases had signalled the US economy’s resilience to the current levels of interest rates. This had led financial markets to expect the timing of a first interest rate cut to be later and the overall extent of monetary policy easing to be less than previously anticipated. post: ECB ACCOUNTS: THE WIDELY AGREED PRICE DATA IS IN LINE WITH THE MID-TERM PATH. post: ECB ACCOUNTS: UNDERLYING INFLATION PROGRESS WAS GENERALLY SEEN. post: ECB ACCOUNTS: IT WAS SEEN AS PLAUSIBLE THAT THE GOVERNING COUNCIL WOULD BE IN A POSITION TO START EASING MONETARY POLICY RESTRICTIONS AT THE JUNE MEETING.