Analysis of European Central Bank's Rate Cut Decision and Inconsistent Inflation Data

After two years unequivocally stating "inflation" was the world's biggest threat and crisis, and that nothing short of full victory would suffice, now all of a sudden Europe (and Canada) is changing it up, cutting rates even as price estimates remain well short of their standard while also appearing to be stuck that way. What is really going on here?

Eurodollar University's Money & Macro Analysis

ECB Christine Lagarde, President of the ECB, Luis de Guindos, Vice-President of the ECB
https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/2024/html/ecb.is240606~d32cd6cc8a.en.html

Bank of Canada Rate Cut Announcement
https://www.bankofcanada.ca/multimedia/press-conference-policy-rate-announcement-june-2024/

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