ECB surveys likely cement case for June rate cut but path to further steep cuts much less clear  

Former policymaker Christian Noyer said on Friday that the ECB does not have to wait for the US Federal Reserve before cutting interest rates as the two can be out of sync for several quarters

ECB data confirm bank lending stagnated across the eurozone, helping the case for a summer rate cut.

Eurozone lending continued to stagnate in March and consumers trimmed their inflation expectations as record-high borrowing costs kept putting the brakes on the eurozone's economy, European Central Bank reports showed. 

The data was likely to cement the ECB's plan to start cutting interest rates in June after seeing inflation fall to just above its 2% goal and economic growth come to a standstill. "Today's data is in line with a start to cautious rate cuts," Bert Colijn, senior economist for the eurozone at ING, said.