As a point of logic seems their best move is to try to pressure the Fed to stop cutting.

Highlights:

ECB’s Stark, Ordonez Say 4% Key Rate May Not Contain Inflation
French Government Will Lift Minimum Wage by 2.3% on May 1
French annual inflation jumps to 17-year high
Italian inflation jumps to highest level since 1996
German Investor Confidence Unexpectedly Fell in April

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