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PC party leader attends the protest in support of fishermen | SaltWire #newsupdate #newfoundlandFRANKFURT - The European Central Bank may be in a position to cut interest rates before the summer recess, possibly in June, as inflation is on its ways back to the bank's 2% target, Bundesbank President Joachim Nagel said on Friday.
"If I would put it into probabilities, definitely something in June has a higher probability than in April." An initial cut, however, does not imply subsequent moves as there will be no automatism in policy easing and the ECB plans to move meeting by meeting as fresh data comes in, Nagel added.Part of the caution is that wage growth remains robust, raising the risk that household income growth could keep prices under pressure.
Workers lost a large chunk of their real incomes to rapid inflation over the past two years so the ECB has long argued they are entitled to a catch up.
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