The European Central Bank could start cutting interest rates in June after a continued slowdown in inflation in the euro zone, ECB policy-maker Pablo Hernandez de Cos said on Wednesday.
Consumer price growth in the 20 nations sharing the euro currency slowed to 2.4 per cent in March from 2.6 per cent a month earlier, defying expectations for a steady rate as food, energy and industrial goods prices all pulled the headline figure lower. The ECB has been cautious in starting to ease policy because it only expects inflation back at its 2 per cent target next year.
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