ECB's Bold Move: Interest Rate Cuts Ahead

The European Central Bank’s Philip Lane announced readiness to begin cutting interest rates starting next week. In an interview with the Financial Times, Lane mentioned that current conditions are sufficient to ease top-level financial restrictions, barring any major surprises.

The European Central Bank's Philip Lane said the ECB is ready to start cutting interest rates from next week, the Financial Times reported on Monday.

"Barring major surprises, at this point in time there is enough in what we see to remove the top level of restriction," Lane told the FT in an interview.