The European Central bank held rates at 4% for the fifth consecutive decision and like their Canadian counterparts signalled rate cuts to come in June.
Eurozone Inflation rate in February was around 2.6% compared to the target rate of 2%.
The Fed also signaled possible rate cuts for later this year, supporting fed-futures fund traders who according to the CME Fed watch Tool believe a cut will occur in June.
The 2024 inflation outlook also changed with average price increases expected to be around 2.3%. 0.4% lower than the previous estimate.
Inflation rates have cooled since January broadly across the Eurozone nations.
A key component driving inflation rates and rising food prices (Wait for it!) is the supply chain crisis in the Red Sea (Surprise!).
Recent War developments
As war rages on in Eastern Europe, these rates seem to be steady. But as the conflict continues, there are fears of other European nations going to war with Russia and earlier this week the Kremlin reported a "leak" of German military leaders discussing possible Russian military targets.