Here's your summary from Watters: ECB to Cut Three Times in 2H24 (https://www.youtube.com/watch?v=ARFKSuvtxPA) on the Bloomberg Television channel:

**TLDR:** ECB is expected to cut rates three times in the second half of 2024, with a focus on credit transmission and macroeconomic indicators.

1. ECB is likely to implement three rate cuts in 2024 due to weak credit transmission and high service inflation.

2. Impact of rate cuts on sovereign and corporate credit levels varies across Eurozone countries.

3. Recent downgrade of France's sovereign rating may pose challenges for fiscal consolidation and impact financing costs, but market impact remains limited.

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