European Central Bank (ECB) board member Gediminas Šimkus indicated that more than one interest rate cut is possible this year. Speaking in Vilnius, Šimkus noted that data clearly shows disinflation and a return to the ECB's inflation goal, although the path ahead remains challenging. He highlighted that while wage growth remains high, it is decelerating and will do so at a faster rate. Šimkus emphasized that the ECB's battle with inflation is not over and that the last mile on inflation will be difficult and bumpy. He also mentioned that the ECB's rate did not need to be as restrictive as before. If trends match ECB forecasts, there will be more cuts.
ECB'S SIMKUS: IF TRENDS MATCH ECB FORECASTS, THERE WILL BE MORE CUTS.
ECB'S SIMKUS: THE ECB'S FIGHT WITH INFLATION IS NOT OVER.
ECB'S SIMKUS: THE ECB RATE DIDN'T NEED TO BE AS RESTRICTIVE AS BEFORE.
🇪🇺 *LITHUANIAN CENTRAL BANK CHIEF SIMKUS SPEAKS IN VILNIUS - BBG *SIMKUS: ECB'S LAST MILE ON INFLATION WILL BE DIFFICULT, BUMPY *SIMKUS: #ECB RATE DIDN'T NEED TO BE AS RESTRICTIVE AS BEFORE
ECB'S SIMKUS: ECB'S LAST MILE ON INFLATION WILL BE DIFFICULT & BUMPY.
⚠️ ECB'S SIMKUS: **DATA VERY CLEARLY SHOWS DISINFLATION, AND INFLATION'S RETURN TO THE GOAL, BUT ROAD AHEAD IS BUMPY **WAGE GROWTH REMAINS HIGH BUT DECELERATING AND WILL BE DECELERATING FASTER
ECB'S SIMKUS: WAGE GROWTH REMAINS HIGH BUT IS DECELERATING AND WILL BE DECELERATING FASTER.
ECB'S SIMKUS: DATA VERY CLEARLY SHOWS DISINFLATION, AND INFLATION'S RETURN TO THE GOAL, BUT THE ROAD AHEAD IS BUMPY.
ECB's Šimkus: It is possible that there will be more than one rate cut this year https://t.co/tXQKWzZ6VB
⚠️ ECB'S SIMKUS: MORE THAN ONE RATE CUT THIS YEAR POSSIBLE
ECB'S SIMKUS: MORE THAN ONE RATE CUT THIS YEAR IS POSSIBLE.