ECB’s Lane: Number of Rate Cuts to Depend on Progress Towards Our Target

13 February 2024

By David Barwick – FRANKFURT (Econostream) – European Central Bank Executive Board member Philip Lane on Tuesday said that ECB would cut interest rates according to its success in restoring price stability.

‘The number of rate cuts we make will depend on how much progress we make towards our target’, he said in an interview with Spanish public radio and television RTVE.

‘The trend is very good, we want it to continue and we have some time left’, he said. ‘You could hear me and other members of the Governing Council saying that we think the next move is to cut interest rates, but the exact timing depends on the data.’