ECB/Cipollone: I expect the first move in June

“I expect the first move towards a rate cut at the next ECB meeting,” said Piero Cipollone, a member of the European Central Bank’s Executive Board. The time is right for a rate cut in June. “I expect the first move towards a rate cut at the next ECB meeting, then we will have to discuss, we will see, we will depend on the data. The latest data is going in that direction and it strengthens our belief that we can ease the restrictive stance of our monetary policy,” Cipollone said at the Economy Festival event. It has been widely reported that the ECB will cut borrowing costs in June. While hawkish policymakers such as Joachim Nagel and Isabel Schnabel have already said they do not want another move in July, most officials have remained silent on what will happen next.