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ECB’s Panetta Sees Right Conditions for a June Rate Cut
European Central Bank Governing Council member Fabio Panetta said the time is right for an interest-rate cut next month. “I believe we have the conditions for a change in monetary policy” at the June 6 decision, Panetta told reporters in Stresa, Italy. “We have our mantra of deciding meeting by meeting, but I do believe that the consensus has widened and that even those who had more doubts are coming round” to agreement on a reduction, he said. A lowering of borrowing costs at the ECB’s next meeting has been broadly telegraphed. Most officials have stayed silent on what happens after that, though hawkish ... (full story)