ECB’s Patsalides Says Further Rate Cuts Are Likely: Politico

(Bloomberg) -- European Central Bank Governing Council member Christodoulos Patsalides said if economic forecasts continue to hold, borrowing costs can be cut further, according to an interview with Politico.

“The inflation rate has been declining, so monetary policy is being successful,” the Cypriot central bank governor is cited as saying
If the ECB’s projections “continue to materialize, there’s nothing to prevent the Governing Council from reducing interest rates”
“Policymaking is still data-dependent”
“It may be that interest rates are in a declining mode, but it depends on data being in line with ECB projections”
Link to full interview here
NOTE: ECB’s Knot Wants More Data to Take View on September Rate Cut