ECB official talks down prospects for summer of rate cuts

Remarks are the clearest signal yet that policymakers still concerned by rapid wage growth and geopolitical threats

ECB executive board member Isabel Schnabel warned against back-to-back interest-rate cuts in June and July.

European Central Bank executive board member Isabel Schnabel warned against back-to-back interest-rate cuts in June and July.

“Based on current data, a rate cut in July does not seem warranted,” she told the Nikkei newspaper.