The European Central Bank (ECB) and the Federal Reserve have disclosed differing monetary policy trends. The ECB has indicated that if underlying inflation remains subdued as expected, there may be considerations to reduce interest rates in June.

On the Fed side, concerns persist about robust inflation rates and stronger-than-expected economic indicators, which could lead the Fed to keep interest rates unchanged for longer. The probability of no change in interest rates at the June meeting has increased to 63.5% according to CME FedWatch tool.

Jerome Powell, Chairman of the Federal Reserve, has suggested that the Fed may cut interest rates about twice in 2024, while still expecting inflation to decrease by the end of this year. However, there remains uncertainty about the timing of interest rate cuts that may occur.