ECB's Duisenberg says inflation receding

Speaking at the International Monetary Conference on Tuesday 3 June, Wim Duisenberg said inflation pressures had fallen back significantly in recent months and the pace of growth in Europe should pick up.

Source: Reuters

European Central Bank President Wim Duisenberg said on Tuesday falling oil prices and the strong euro are lowering inflationary pressures, bolstering market expectations for an ECB interest rate cut this week.

``Inflation pressures have declined significantly in recent months,