European Central Bank (ECB) policymaker Oli Rehn said in a speech on Tuesday that the “pace and scale of rate cuts will be decided meeting by meeting.”
Additional comments
Sees euro area inflation rate stabilizing at ECB 2% target during 2025.
The direction of monetary policy is clear, rate cuts have begun.
Our monetary policy stance is becoming less restrictive.
Draghi report is a necessary wake-up call to all Europeans about Europe’s low growth.
Draghi report will provide a good basis for next commission work programme.
Market reaction
EUR/USD is defending 1.1100 following these comments, down 0.23% on the day, at the press time.
Source: https://www.fxstreet.com/news/ecbs-rehn-pace-and-scale-of-rate-cuts-will-be-decided-meeting-by-meeting-202410010848