ROME, – The European Central Bank (ECB) is moving towards an interest rate cut as inflation is falling rapidly and approaching the bank’s 2% target, Bank of Italy Governor Fabio Panetta said on Monday.
Addressing an event in Rome, Panetta said the inflation trend was making a rate cut “possible.”
“The consensus emerging – especially in recent weeks – within the ECB governing council points in this direction,” he said.
(Reporting by Giuseppe Fonte, editing by Gavin Jones)
