ECB may cut rates ahead of the US

2024 could end with a 100 basis point reduction

Europe could cut interest rates before the US as the European economy is growing more slowly.

A total of four interest rate cuts is feasible in 2024, for a reduction of 100 basis points by year-end, according to European Central Bank (ECB) governing council member Yannis Stournaras.

“If inflation develops in line with our March forecast and if this trend continues until the end of the year, I believe that this year we will have reductions in key interest rates from the ECB,” Mr Stournaras said in an interview with the Proto Thema newspaper.