Bank of Canada: European Central Bank Expected to Cut Rates in September and December

On July 18th, Jinshi data reported that Royal Bank of Canada believes that the European Central Bank is unlikely to cut interest rates again at the July meeting. The European Central Bank may cut interest rates in September, but does not want to make a commitment to this decision in advance. Considering the current market expectation of 1-2 interest rate cuts this year, the July meeting has little impact on the market. Royal Bank of Canada expects the European Central Bank to cut interest rates in September and December, which indicates that the current market pricing is close to fair value.