ECB's Schnabel: July cut doesn’t look warranted

European Central Bank Board member Isabel Schnabelsaid on Friday that the central bank may cut interest rates in June, but policymakersshould look very carefully at the data because there is a risk of easing prematurely, per Reuters. Key quotes “Says depending on incoming data rate cut in June may be appropriate but a path beyond June is much more uncertain.” “Recent data have confirmed that the last mile of disinflation is most difficult.

The ECB sets interest rates and manages monetary policy for the region. The ECB primary mandate is to maintain price stability, which means keeping inflation at around 2%. Its primary tool for achieving this is by raising or lowering interest rates. Relatively high interest rates will usually result in a stronger Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year.

Source: Loan Digest (loandigest.net)

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