ECB’s Rehn Sees Prerequisites for Several Rate Cuts This Year

The European Central Bank Governing Council member Olli Rehn sees conditions emerging that will allow several reductions in borrowing costs this year, with the first such move due “near summer.”

“My view is that near the summer is the time to start easing the foot off the monetary-policy brake,” he told YLE TV1 in an interview on Saturday. “If inflation is sustainably stabilizing at 2%, and no adverse shocks — such as the energy crisis — emerge, I believe we have prerequisites to cut rates several times as the year progresses.”