ECB's Simkus: The case for a July interest rate cut has gone

Gediminas Šimkus, head of the central bank of Lithuania and sitting member of the European Central Bank's (ECB) Governing Council, warned on Monday that despite decent odds of a few more rate cuts in 2024, a July rate cut is unlikely to materialize.

Key highlights

The case for a July interest-rate cut has gone.

Two more 2024 cuts are possible if the data is as expected.

I don't see disorderly moves in French bonds.

We shouldn't limit rate moves to projection meetings.