ECB moving towards rate cut, Italy’s Panetta says

FILE PHOTO: A view of the European Central Bank (ECB) headquarters in Frankfurt, Germany March 16, 2023. REUTERS/Heiko Becker/File Photo

ROME (Reuters) – The European Central Bank (ECB) is moving towards an interest rate cut as inflation is falling rapidly and approaching the bank’s 2% target, Bank of Italy Governor Fabio Panetta said on Monday.

Addressing an event in Rome, Panetta said the inflation trend was making a rate cut “possible.”

“The consensus emerging – especially in recent weeks – within the ECB governing council points in this direction,” he said.


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