The European Central Bank could cut interest rates more than three times this year and the reductions should not be held back if the US Federal Reserve delays its own cuts, Lithuanian policymaker Gediminas Simkus said today.
Simkus, making some of the most dovish comments since the ECB's policy meeting on Thursday, also said the bank could lower its 4% deposit rate in both June and July.
The ECB put a rate cut for June on the table last week but ECB President Christine Lagarde said the bank was not signalling any move beyond that, given uncertainty for both growth and inflation. "I reject the idea that eurosystem is taking decisions based on what US policymakers are doing. There is no connection there," he said.
Business European Central Bank Inflation Interest Rates Gediminas Simkus
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