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Inflation clears the path

Good news today on the inflation front. The Eurozone CPI for the month of March came in lower than expected at 2.4% and Core CPI was also lower than expected at 2.9%. These are the lowest since August 2021, and in order for central bankers to consider rate cuts in June, it was necessary for these numbers to show continuation of the downtrend, and as of March, they have. Pressures from the oil market and transportation services have been diluted with other items, and that provides the necessary framework for a more accommodative monetary policy. We’ll have to wait until next Wednesday, the 10th, to see if CPI is also under control on the other side of the pond, but it seems that stars are lining up for a June/July cut.

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