By Aurėja Bobelytė – VILNIUS (Econostream) – European Central Bank Executive Board member Isabel Schnabel said on Thursday that a June rate cut is likely if incoming data supported it.

In an interview with German broadcaster ARD, Schnabel said, ‘If inflation projections and new data confirm our current outlook, an interest rate cut in June is likely’.

According to Schnabel, the euro area economy has been recovering and inflation has continued to decline. ‘Therefore, there’s reason for hope that we’ll succeed in returning to price stability without experiencing a recession’, she added.