ECB's Nagel offers warning to traders betting on impending rate cuts

<p>In his words:</p><p>"I would say to everyone who is speculating on an imminent interest rate cut: Be careful, some people have already miscalculated that. We must initially remain at the current interest rate plateau so that monetary policy can fully develop its inflation-dampening effect."</p><p>But he did mention that rates have very likely peaked already though. In any case, it's not like markets are listening all too much. The odds of a March rate cut next year are at ~45% currently with 36 bps of cuts priced in for April.</p>

This article was written by Justin Low at www.forexlive.com.