Central Banks
ECB Needs to Start Cutting Interest Rates Soon, Panetta Says
- Disinflation at advanced stage, sees rapid progress toward 2%
- Bank of Italy Governor Fabio Panetta speaks in Genoa
Fabio Panetta
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
The European Central Bank will soon need to start cutting interest rates, according to Governing Council member Fabio Panetta.
“Macroeconomic conditions suggest that disinflation is at an advanced stage, and progress toward the 2% target continues to be rapid,” he said on Saturday at the annual Assiom Forex event in Genoa. “The time for reversal of the monetary policy stance is fast approaching.”