ECB moving towards rate cut, Italy’s Panetta says

By Thomson Reuters Mar 25, 2024 | 5:54 AM

ROME (Reuters) – The European Central Bank (ECB) is moving towards an interest rate cut as inflation is falling rapidly and approaching the bank’s 2% target, Bank of Italy Governor Fabio Panetta said on Monday.

Addressing an event in Rome, Panetta said the inflation trend was making a rate cut “possible.”

“The consensus emerging – especially in recent weeks – within the ECB governing council points in this direction,” he said.

(Reporting by Giuseppe Fonte, editing by Gavin Jones)