MNI BRIEF: Bar Surprise, ECB Set For June Cut - Lane

Unfazed by slightly higher than expected Q1 negotiated wage growth data, ECB chief economist Philip Lane says that barring major surprises between now and the next Governing council meeting, a June rate cut is on the cards.

"It is probably fair to say that, barring major surprises, at this point in time there is enough in what we see to remove the top level of restriction, being at 4 per cent," Lane told the FT in an interview published Monday, although he noted the May inflation data was yet to be published.

Not committing to a future rate path, Lane said "he data flow over the coming months will help us decide the speed at which we remove more restrictiveness". (see MNI SOURCES: Fed, Geopolitics, Feed ECB Caution Over Cuts)