Villeroy Says Inflation Data Give ECB Confidence for June Cut

Euro-area inflation data for April give the European Central Bank confidence to begin cutting interest rates in June before continuing to loosen monetary policy at a pragmatic pace, Governing Council member Francois Villeroy de Galhau said.

The French central-bank chief commented in a post on LinkedIn a few hours after Eurostat revealed that the recent slowdown in inflation stalled in April, holding at 2.4%. Still, gains in services prices eased to 3.7% after five months at 4%.