The statements of ECB policymaker Yannis Stournaras were as follows
- We need to start reducing interest rates soon.
- The risk of a wage and price spiral should not be overestimated.
- I am not convinced by the argument that the ECB cannot cut interest rates before the Fed.
- Four interest rate cuts in 2024 seem reasonable.
- We have to cut interest rates twice before the summer holidays.
All the signs indicate that the first step will be in June and the above statements confirm this, it seems from these statements that we will have one reduction in June and another one in July so far.
