ECB's Simkus: Would expect three rate cuts this year

Market news

6 May 2024

ECB's Simkus: Would expect three rate cuts this year

European Central Bank (ECB) policymaker Gediminas Simkus said on Monday that rate cuts should not be limited to just June unless there are surprises in data, per Reuters.

"My thinking is that there are some other interest rate cuts coming in the future, but I will restrict myself from elaborating on how many, even if I have already expressed that this year, I would expect three cuts," Simkus added.

Market reaction

These comments don't seem to be influencing the Euro's valuation in a noticeable way. At the time of press, EUR/USD was up 0.01% on the day at 1.0772.

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