Economy
ECB moving towards rate cut, Italy’s Panetta says
FILE PHOTO: A view of the European Central Bank (ECB) headquarters in Frankfurt, Germany March 16, 2023. REUTERS/Heiko Becker/File Photo
ROME (Reuters) – The European Central Bank (ECB) is moving towards an interest rate cut as inflation is falling rapidly and approaching the bank’s 2% target, Bank of Italy Governor Fabio Panetta said on Monday.
Addressing an event in Rome, Panetta said the inflation trend was making a rate cut “possible.”
“The consensus emerging – especially in recent weeks – within the ECB governing council points in this direction,” he said.
