ECB Can Afford Less Restrictive Stance From Summer, Simkus Says

The European Central Bank should be able to soften its grip on the economy somewhat in the summer as inflation moves toward its target, according to Governing Council member Gediminas Simkus.

But policy must remain restrictive given wage pressures continue to be too strong for comfort, the Lithuanian central bank chief said in an interview. An interest-rate cut in March is out of the question, and even April is an unlikely option, he added.