When are those rate cuts coming, already? The European Central Bank may be providing some hints
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The European Central Bank (ECB) is likely to use its Thursday meeting as a prelude to a first interest rate cut in June. The ECB will not change its interest benchmarks on Thursday, but the post-decision statement and President Christine Lagarde’s news conference will be scrutinized for hints about the potential downward path of rates in the future. Lagarde has hinted that the bank will wait until its June 6 meeting to take any action. The focus will be on how much more guidance Lagarde will give during her news conference. Rate cuts can boost stocks because they suggest a strong economy ahead that will boost corporate profits, and because lower interest rates make stocks relatively more attractive compared with interest-bearing holdings such as bonds or CDs.