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PARIS/FRANKFURT - European Central Bank policymakers continued to make the case for an interest rate cut in June on Tuesday as inflation remains on course to ease back to 2% by next year, even if the path for prices still proves bumpy.
ECB President Christine Lagarde echoed that message, arguing that inflation is easing much as the ECB had expected and fresh turbulence in the Middle East has so far had little impact on commodity prices. Markets now see 77 basis points of rate cuts this year, or three moves - a big change compared to six weeks ago when over a 100 basis points were priced in.
"This assumes there will be no further setbacks, for instance in the geopolitical situation and therefore in energy prices," Finnish central bank chief Olli Rehn said in Helsinki.
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