Core Viewpoint - The IMF suggests that the European Central Bank (ECB) should maintain the deposit rate at 2% unless a significant shock alters the inflation outlook [1] Group 1: ECB's Interest Rate Policy - The ECB has reduced the interest rate by two percentage points since June 2024 and has indicated a pause in further cuts [1] - Financial investors anticipate that the ECB may lower the rate to 1.75% later this year [1] Group 2: Inflation Outlook - IMF's Alfred Kammer states that the inflation risks in the Eurozone are two-sided, supporting the argument for maintaining the current rate [1] - The IMF's inflation forecast for next year is higher than the ECB's expectations, contributing to the differing views between the IMF and market participants [1]

Core Viewpoint - The European Central Bank (ECB) can pause further interest rate adjustments in July, indicating no need for significant monetary policy easing in the current cycle [1] Summary by Relevant Sections Interest Rate Policy - ECB has cumulatively lowered the benchmark deposit rate by 2 percentage points since June of last year [1] - It is expected that the ECB will maintain a wait-and-see approach for a longer period, with potential for another rate cut only before the end of the year [1] - Müller stated that maintaining stable policy is a reasonable approach and that keeping rates unchanged in July is logical [1] Economic Outlook - Müller mentioned that it is too early to discuss autumn policy but suggested that it is reasonable to assume no further significant rate cuts in the current cycle unless the Eurozone economy performs significantly worse than expected [1]

Core Viewpoint - The European Central Bank (ECB) may need to maintain interest rates for a period of time and does not rule out the possibility of further rate cuts [1] Group 1 - The current interest rate level of the ECB is considered to be in a neutral position, which is viewed positively [1] - The inflation risks are currently seen as two-sided, indicating potential volatility in future economic conditions [1]

Core Viewpoint - The European Central Bank (ECB) interest rates are likely to remain unchanged in the foreseeable future, but future policy adjustments will depend on the economic conditions leading up to the next meeting in July [1] Economic Outlook - The uncertainty surrounding tariff policies poses downside risks to economic growth in the Eurozone [1] - Inflation risks are mixed, indicating a cautious approach is necessary for decision-makers [1]

Group 1 - COMEX gold prices are experiencing a slight decline, currently trading at $3396.20 per ounce, with a decrease of 0.04% [1] - The trading range for today shows a high of $3407.70 and a low of $3384.50, indicating a narrow fluctuation in prices [1][3] - The resistance levels for gold are identified between $3427 and $3437, while support levels are between $3304 and $3314 [3] Group 2 - Nadia Gharbi, a senior economist at Pictet Wealth Management, anticipates that the European Central Bank (ECB) will not provide clear signals regarding interest rate actions for July during its meeting [2] - Key developments expected before the July meeting include the end of a 90-day tariff suspension, additional information on Germany's 2025 and 2026 budgets, and upcoming PMI reports and inflation data [2] - The ECB is expected to lower interest rates by 25 basis points and revise down its economic growth and inflation forecasts for 2025 and 2026, suggesting a need for moderate monetary policy easing [2]