Central Banks
More ECB Cuts Needed Irrespective of Fed Moves, Rehn Says
- ‘It makes sense to continue rate cuts,’ he says in interview
- Finnish central-bank chief speaks to Bloomberg Television
The European Central Bank should continue lowering borrowing costs irrespective of what the US Federal Reserve does, according to Governing Council member Olli Rehn.
“Against the backdrop of disinflation being on track and the growth outlook having weakened it makes sense to continue rate cuts,” the Finnish official told Bloomberg TV. “The direction is clear, the scale and speed of rate cuts depends upon the incoming data.”