So let me get this straight ... the BoE cut rates 25 bps, but it was a HAWKish cut. The move was expected, but the comments were mixed. But it is looking increasingly clear that the MPC is done. A bit over an hour later, the ECB announced that it would leave the deposit rate unchanged at 2.00%, the lowest since January 2023. And given the new staff projections, and President Lagarde's comments, this was a HAWKish hold. This was first evident with the Press Release, and the new Staff forecasts, which were released before the ECB head addressed the media. See the Table below (which uses Calibri font). As President ... (full story)