ECB’s Kazaks Says on Track to Cut Interest Rates in June

The European Central Bank is on track to start lowering borrowing costs in June, according to Governing Council member Martins Kazaks.

“If we are really in the direction of our goal 2%, then to my mind we are really close to a turning point when these rates can be lowered step by step,” he told Latvia’s TV3 channel on Friday. “If really nothing changes then June will be the month where we see the first rate cut.”