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On Tuesday, European Central Bank (ECB) policymaker Olli Rehn hinted at the possibility of a rate cut in June if the macroeconomic assessment confirms an inflation convergence towards the ECB’s target.
Rehn emphasized that future rate decisions will aim to maintain policy rates at a sufficiently restrictive level as long as necessary, with the assumption that there are no further setbacks, particularly in geopolitics and energy prices.
Market Reaction
Despite Rehn’s comments, the Euro’s valuation doesn’t appear to be significantly impacted. At the time of reporting, the EUR/USD pair was down 0.05% on the day, trading at 1.0620.
