Right time for ECB to cut interest rates, say top policymakers

A lowering of borrowing costs by the ECB in June has been widely telegraphed

The European Central Bank skyscraper in  Frankfurt. ECB officials scheduled to speak in the coming week include chief economist Philip Lane and the Dutch, French, and Italian governors.

European Central Bank (ECB) executive board member Piero Cipollone said the time is right for an interest rate cut in June, echoing comments a day earlier from governing council member Fabio Panetta.

“I expect a first move to reduce rates at the next ECB meeting, then we will have to discuss, we will see, we will be data-dependent,” Mr Cipollone said on Sunday at the Economy Festival event arranged by Il Sole 24 Ore in Trento, Italy.