ECB is ready to cut rates, chief economist says

Next steps in ECB’s easing cycle will be “bumpy” and “gradual”, says Philip Lane

ECB + bridge

The European Central Bank (ECB) is ready to cut rates at next week’s monetary policy meeting, Philip Lane, chief economist of the central bank told the Financial Times on May 27.

“Barring major surprises, at this point in time there is enough in what we see to remove the top level of restriction,” Lane told the newspaper.

The central bank has held its rates steady since September 2023, keeping the key deposit facility rate at 4%. It will announce its new monetary policy rates on Thursday, June 6.

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