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Will the first “cut” come after the summer?

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Will the first “cut” come after the summer?

PHOTO: Reuters

PHOTO: Reuters

We will not be surprised if this year’s first “cut” comes only in the second half of the year, writes J&T Bank analyst Stanislav Pánis.

Although the main indicators of the price level development from the United States show the continuation of the disinflationary trend, its dynamics are beginning to slow down as the base effect of higher energy and food prices fades away. The problem remains the “sticky” prices of services, which continue to grow relatively dynamically due to the still strong labor market – which is only slowly cooling – with brisk wage growth.

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