As Governor of the Bank of Italy, Fabio Panetta is also a member of the Governing Council of the European Central Bank. On Saturday, he spoke at a press conference at the end of the G7 finance leaders' meeting, saying he saw “a fairly general consensus emerging about the possibility of an interest rate cut.”
Sure enough, we've got consensus from ECB officials that the cut will happen in June, and this is as of Friday:
- ECB Governor Nagel: The probability of an interest rate cut in June is increasing. ECB Governor Nagel: The probability of an interest rate cut in June is increasing
- As Justin said in Nagel: For one of the more hawkish members, the headline comment is pretty much a concession that they will cut rates in a couple of weeks.
- ECB's Schnabel: Interest rate cut likely in June
European Central Bank rates:
This article was written by Eamonn Sheridan at www.forexlive.com.
