-
The time is ripe to cut interest rates next week, European Central Bank’s Rehn says
Two key European Central Bank figures on Monday threw their weight behind the prospect of an interest rate cut next week, indicating that it is practically a done deal. In a speech on Monday, Olli Rehn, ECB governing council member and head of Finland’s central bank, stressed that inflation in the euro area was falling in a “sustained way.” Inflation in the euro area held steady at 2.4% in April, marking the seventh straight month it has been below 3%, despite a slight rebound in December. The figures for May are due on Friday. “Thanks to this disinflationary process, inflation is converging to our 2% target ... (full story)