ECB’s Stournaras sees two more rate cuts in 2024 as ‘reasonable’

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Recent data on inflation and economic expansion reinforce arguments for additional interest-rate reductions by the European Central Bank, with two more this year about right, according to governing council member Yannis Stournaras.

“These data strengthen the case for further cuts a little bit,” the Greek central-bank chief said in an interview with Bloomberg.

Following the 0.25% cut in borrowing costs, the ECB is weighing whether inflation for the eurozone moderates enough to allow for further easing. With no prior commitment, several observers argue that one or two more moves this year are possible.

Inflation slowed to 2.5% from 2.6% in June. However, there were warning signs in Eurostat’s release on Tuesday: Underlying price pressures failed to ease and services inflation remained at more than double the 2% target.

Source: ANA – MPA

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