ECB’s Makhlouf backs June interest rate cut

The European Central Bank should be able to cut interest rates in June, policymaker Gabriel Makhlouf said on Friday.

"My current view is that the picture should be sufficiently clearer when the Governing Council meets in June (as we will have a lot more information – particularly on wage dynamics – available in our deliberations) to give us sufficient confidence to make monetary less restrictive," he said in a blog post on the Irish central bank website.