'Strong likelihood' of rate cut next month, says Lagarde

"I'm really confident that we have inflation under control,” European Central Bank president Christine Lagarde told RTÉ’s Miriam O’Callaghan in an interview.

Christine Lagarde said the European Central Bank (ECB) was closing in on its target to control inflation. Picture: Arne Dedert/AP

European Central Bank president Christine Lagarde has all but confirmed that interest rates will be cut next month, but appears to have given no commitment over whether household and business borrowers can expect more relief through the rest of the year.

There is a “strong likelihood” that the central bank will cut interest rates when it meets in Frankfurt on June 6, “if the data that we receive reinforces the confidence level that we have”, Ms Largarde told RTÉ’s Miriam O’Callaghan in an interview.