ECB member confident rate cut will come in June despite eurozone wage growth

Meanwhile, there are fresh hopes that the Federal Reserve will also cut rates

Bank of France governor Francois Villeroy de Galhau said it’s very probable that the European Central Bank (ECB) will start cutting interest rates at its June 6 meeting. Picture: Eric Piermont/AFP via Getty Images

Bank of France governor Francois Villeroy de Galhau said it’s very probable that the European Central Bank (ECB) will start cutting interest rates at its June 6 meeting.

Speaking at a conference in Paris, the French policymaker said recent data on inflation are encouraging and confirm the ECB’s pledge to bring the pace of annual price increases back to 2% durably by next year.