6 August
Bank of Finland governor calls for ECB rate cut in April
European Central Bank (ECB) Governing Council member Olli Rehn has called for additional rate cuts in April, citing declining inflation and a slowing eurozone economy, according to Econostream Media.
The Bank of Finland's Governor noted that the eurozone's consumer price index is nearing the ECB's 2% target, while labor market conditions remain stable. The official added that US trade policies are unlikely to significantly affect the eurozone economy.
However, Olli Rehn noted that the current EU GDP growth outlook remains weaker than at the ECB's March meeting. In this regard, the case for monetary policy easing has strengthened.
Earlier, Olli Rehn stated that reduced interest rates in the eurozone would improve credit conditions for both households and businesses, according to Econostream Media.
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