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MNI BRIEF: ECB Could Cut Before Fed If Econ Requires -Schnabel

(MNI) LONDON
(MNI) Milan

ECB's Schnabel said Frankfurt ready to cut interest rates first if need be.

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The European Central Bank could start cutting interest rates before the US Federal Reserve if the economy "requires (us) to act first", executive board member Isabel Schnabel said in Milan on Friday.

"If the economic situation is different and requires to act first we are going to act", she said shortly after Bank of Austria Robert Holzmann said in an interview with Bloomberg TV that was unlikely that the ECB would move before the Fed.

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The European Central Bank could start cutting interest rates before the US Federal Reserve if the economy "requires (us) to act first", executive board member Isabel Schnabel said in Milan on Friday.

"If the economic situation is different and requires to act first we are going to act", she said shortly after Bank of Austria Robert Holzmann said in an interview with Bloomberg TV that was unlikely that the ECB would move before the Fed.

Keep reading...Show less