(Bloomberg) -- European Central Bank Governing Council member Gediminas Simkus said he sees borrowing costs being reduced three times in 2024 — starting with...
-- European Central Bank Governing Council member Gediminas Simkus said he sees borrowing costs being reduced three times in 2024 — starting with the planned move in June.Xi Begins Europe Tour in Paris as Macron Seeks to Reset Ties
Policymakers, while in agreement over lowering the deposit rate in June, diverge over how much more easing should follow. Simkus falls in the camp that’s pushing for more — emboldened by the retreat in inflation toward 2%. Other more hawkish officials worry that consumer-price growth could yet be reignited should wage gains not moderate sufficiently or conflict in the Middle East drive up energy costs.
“We will decide in July,” he told the same event. “It’s going to be completely data-dependent. If the projections stand as we see it at the moment, I would expect loosening of the monetary policy but still staying in a restrictive enough territory to make sure that inflation is brought down to 2% level.”“Starting cutting or affording less restrictive monetary policy can’t be limited to a cut in June,” Simkus said. “Let’s see, because we’re data-dependent.
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