ECB can cut rates this summer 'even if US Fed doesn't' 

Financial investors have bet on cuts materialising in tandem by both jurisdictions in June

The ECB held rates unchanged at a record high last week, but its president Christine Lagarde said discussions over easing policy have begun.

The European Central Bank should not worry about cutting interest rates if that means decoupling its policy from the US Federal Reserve, Unicredit economist Erik Nielsen said.

The Italian bank’s chief economics adviser said high levels of employment with elevated wage growth and lots of fiscal support could mean the US economy should stay constricted. If so, eurozone officials should take a different path, he said.