ECB’s Stournaras: Maybe One or Two More Interest Rate Cuts This Year

5 July 2024

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Yannis Stournaras on Friday said that the ECB would probably cut interest rates once or twice more in 2024.

In an interview with Greek television programme ‘Mirror’, Stournaras, who heads the Bank of Greece, was asked whether there would be further rate cuts this year. ‘Absolutely’, he replied. ‘We already had the first cut from the European Central Bank last month, maybe we will have one or two more this year.’

There had been ‘significant progress’ in terms of getting inflation back down, he said.