Interest Rates

Three ECB rate cuts now more likely this year: governing council member

Yannis Stournaras made the comments in an interview

Yannis Stournaras is an ECB governing council member and head of the Greek central bank

The European Central Bank (ECB) will probably lower borrowing costs three times this year instead of four, according to governing council member Yannis Stournaras.

The Bank of Greece reviewed Eurostat’s recent inflation and growth data, and “we now consider three rate cuts in 2024 as the more likely scenario,” Stournaras said in an interview with Liberal.

Inflation numbers are consistent with the ECB’s most recent projections, but first-quarter output figures were a positive surprise, Greece’s ...