ECB will ‘quite probably’ cut rates this month

People cross a street in front the headquarters building of the European Central Bank (ECB) in Frankfurt am Main, western Germany, on June 5, 2024. (Photo by Kirill KUDRYAVTSEV / AFP)

LONDON: The European Central Bank (ECB) will “quite probably” cut interest rates at its next meeting later this month, according to Governing Council member Francois Villeroy de Galhau.

Inflation fell below the ECB’s 2% target in September and the core measure of price increases should gradually recede close to that level in 2025, the Bank of France chief said in an interview with La Repubblica.