ECB’s Panetta says consensus growing on need for rate cut

STRESA, Italy, May 25 (Reuters) – There is growing consensus within the European Central Bank over the need for a first rate cut as inflation is diminishing, creating the conditions to ease its monetary policy, ECB policymaker Fabio Panetta said on Saturday.

“It seems to me that a fairly general consensus has emerged on the possibility of a rate cut,” Panetta, the Bank of Italy governor, said during the press conference after the end of the G7 finance meeting in Stresa, northern Italy.

Source: REUTER