If the macroeconomic assessment in June confirms an inflation convergence toward the European Central Bank's (ECB) target, key rates could be lowered in June, European Central Bank (ECB) policymaker Olli Rehn said on Tuesday.

Rehn added that future rate decisions will ensure that policy rates will stay sufficiently restrictive as long as necessary and noted that rate cut assumes there will be no further setbacks, for instance in the geopolitics and energy prices.

Market reaction

These comments don't seem to be having a significant impact on the Euro's valuation. At the time of press, the EUR/USD pair was down 0.05% on the day at 1.0620.