Stournaras says consensus building in ECB for a June rate cut
Member of the ECB governing council and Governor of the Bank of Greece, Yannis Stournaras talks during an interview with Reuters in Athens, October 11, 2023. [Louisa Gouliamaki/Reuters]
European Central Bank policymaker Yannis Stournaras said on Tuesday that consensus was building within the European Central Bank for a rate cut in June, if inflation develops as projected.
In an interview with Greek financial website Mononews.gr, Stournaras, who is also governor of the Bank of Greece, said that it seemed there was a consensus for a rate cut in June, if ECB forecasts were confirmed.
He added that four rate cuts this year were “reasonable” as long as inflation continued to decrease.
The ECB, he said, had no reason to wait for the Fed to cut rates first as “the reasons for the inflation in Europe are different than in the United States.” [Reuters]
