Gediminas Šimkus, head of the central bank of Lithuania and sitting member of the European Central Bank's (ECB) Governing Council, warned on Monday that despite decent odds of a few more rate cuts in 2024, a July rate cut is unlikely to materialize.

Key highlights

The case for a July interest-rate cut has gone.

Two more 2024 cuts are possible if the data is as expected.

I don't see disorderly moves in French bonds.

We shouldn't limit rate moves to projection meetings.