ECB's Simkus signals multiple rate cuts starting in June - Breaking The News

ECB's Simkus signals multiple rate cuts starting in June

6 May

1 min read

EPA-EFE/TOMS KALNINS

Member of the European Central Bank (ECB) Governing Council and Bank of Lithuania Board Chairman Gediminas Simkus (pictured) stated that the anticipated interest rate cut in June is likely just the beginning of a series.

"My thinking is that there are some other interest rate cuts coming in the future, but I will restrict myself from elaborating on how many, even if I have already expressed that this year, I would expect three cuts," Simkus told reporters.

Simkus' prediction joins a group of bank members who believe the time to ease rates is approaching. Recently, European Central Bank Governing Council member Klaas Knot stated that it is "realistic" to see a rate cut as early as June.

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