April ECB interest-rate cut likely, says Stournaras

A member of the European Central Bank (ECB) Governing Council, Yannis Stournaras, indicated that a cut in interest rates may happen in April. However, he also emphasized that it is too early to make a definite prediction. Stournaras stated in a recent interview that "everything points in the direction of a cut in April," but he reminded that March is still not over. The ECB has reduced borrowing costs six times since June, but market expectations for another cut at the upcoming meeting on April 17 are not strong. He noted that he expects two more rate cuts this year, which would bring the deposit rate to 2%. However, he could not specify when these cuts will occur. Stournaras emphasized the need for a careful, data-driven approach to monetary policy. He added that while the monetary policy is becoming less restrictive, it is still somewhat restrictive. The overall trend appears to be moving towards lower rates, though the timing remains uncertain.