European Central Bank Governing Council Member Stournaras: U.S. tariffs will not hinder interest rate cuts in April

Yannis Stournaras, a member of the European Central Bank's Governing Council and the Governor of the Bank of Greece, stated that the tariffs announced by the U.S. government are expected to have a "negative impact on the GDP growth rate of the Eurozone, with preliminary estimates for the first year ranging from 0.3% to 0.4%." Stournaras said, "The downward trend in inflation is expected to continue. In my view, the recent developments will not pose an obstacle to further interest rate cuts in April." Stournaras added, "Greece's exports of goods and services to the U.S. account for about 4.5% of the country's total exports, so the direct impact is expected to be limited. However, the Greek economy will be indirectly affected by the negative impact of the tariffs on Eurozone GDP growth."