European Central Bank Governing Council member Wunsch stated that the central bank may need to lower interest rates to below 2% -- Financial Times
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The Governor of the National Bank of Belgium and a member of the European Central Bank, Pierre Wunsch, stated that due to the downward risks to inflation and economic growth posed by global trade tensions, the European Central Bank may need to lower interest rates to below 2%. He mentioned that recent shocks may prompt a mild supportive monetary policy, with deposit rates potentially falling below 2.25%. The market expects a roughly 90% chance of a rate cut on June 5, but only one more rate cut is anticipated within this year, with deposit rates possibly bottoming out at 1.75%
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