The European Central Bank (ECB) Governing Council member and the Estonian central bank chief, Madis Muller, said that the ECB mustn’t rush into further interest rate cuts after a likely first step in June.

Key quotes

“We should be careful not to move too quickly with the loosening of monetary policy and wait until the data gives us the necessary confidence that inflation is getting sustainably back to the target.” 

“As long as economic developments are in line with our expectations, it is reasonable to expect a few more rate cuts after June by the end of the year.” 

“But when and how many will depend on how the economic situation develops as we go along