ECB official Nagel: The possibility of an interest rate cut in June is increasing

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Bundesbank President Joachim Nagel said the European Central Bank is expected to reduce borrowing costs at its next meeting

Bundesbank President Joachim Nagel said the European Central Bank is expected to reduce borrowing costs at its next meeting.
\”If the situation remains as it is and the forecast doesn\’t say anything completely different, then the possibility of taking the first step to cut interest rates will increase,\” he told reporters.
Speaking on the sidelines of a meeting of G7 finance ministers and central bank governors, he emphasized that even if action is taken in June, it is important to me that this decision does not make people feel that it will go all the way down.
Signals of interest rate cuts at the June 6 meeting have been widely released. However, European Central Bank policymakers were mostly vague about their actions after the meeting.
Nagel would not discuss the topic. He also avoided questions about the potential size of the first rate cut.
ECB Vice President Luis de Guindos suggested earlier this week that a 25 basis point rate cut would be appropriate.

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