ECB’s Nagel Says Likelihood of June Cut Is Winning Traction

The European Central Bank is on track to lower borrowing costs at its next meeting, according to Bundesbank President Joachim Nagel.

“If the situation stays as it is now and the projections don’t say something completely different — but I don’t assume that — then the probability increases that we will see the first interest-rate step,” he told reporters in Stresa.