*LAGARDE SAYS SHE KNOWS WHERE ECB IS HEADED ON INTEREST RATES

ECB President Christine Lagarde indicated she has clarity on the future path of interest rates, signaling a more confident forward guidance amid evolving inflation and growth dynamics. The comment suggests the central bank may be nearing a decision point on rate cuts, with market pricing increasingly focused on the timing of easing rather than further hikes. This shift in tone influences eurozone sovereign yields and the euro’s exchange rate, particularly against the dollar, as traders reassess rate differential expectations. The key transmission channel is changes in front-end euro interest rate futures, which are repricing based on perceived shifts in ECB policy timing. Traders will closely watch the upcoming ECB staff inflation forecasts and Lagarde’s subsequent Q&A for cues on whether June or July is the likely start date for rate cuts.

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