By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Christodoulos Patsalides on Wednesday said that the ECB could be able to cut rates this month but should consider all available information.

Patsalides, who heads the Central Bank of Cyprus and was speaking in an interview with the Cyprus News Agency, noted ‘sluggishness in terms of economic activity and inflation’, citing the latest composite PMI for the euro area.

Observing also that inflation was likely to have decreased significantly in September, he said, ‘Based on the above, there seems to be room for a reduction in interest rates. But all new data should be discussed as usual.’

‘Among other things, any implications of developments in the Middle East should be assessed’, he added.