ECB’s Knot backs one or two more rate cuts this year

FRANKFURT, June 20 (Reuters) – European Central Bank policymaker Klaas Knot on Thursday backed market expectations for one or two more interest rate cuts this year as inflation appeared to be headed towards the ECB’s 2% target.

The ECB began undoing its steepest ever streak of rate hikes earlier this month but left options open as to what it would do next, also in light of stronger-than-expected inflation and wages data in recent weeks.

Source: REUTER