April 14, 2024 16:44 GMT
MNI BRIEF: ECB Will Cut Rates Jun 6, Bar Surprises - Villeroy
(MNI) LONDON
(MNI) London
French central bank head says only a 'surprise' will stop an ECB rate cute on June 6.
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Bank of France Governor Francois Villeroy says the European Central Bank will cut rates at its Governing Council meeting on June 6, "barring any surprises".
"Our reduction at the beginning of June should be followed by other cuts by the end of the year," Villeroy said in an interview with the Journal du Dimanche newspaper. The BdF governor argued for an approach of "pragmatic gradualism" towards rate cuts, driven by the incoming economic data.
"That said, we will not return to ultra-low or even negative rates," he said. (see MNI SOURCES: ECB Still Divided Over Guidance As It Nears Cuts)
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