Central Bank Governor Gabriel Makhlouf has said he was comfortable with just one more interest rate cut from the European Central Bank this year as he needed more time to gain confidence inflation was headed to the ECB's 2% goal.
But Mr Makhlouf struck a more cautious tone in an interview with Reuters, even though he expected rates to fall eventually. "I think two cuts today, at the beginning of July, is probably going a little bit too far. I'm not saying I'd rule it out." Data yesterday showed inflation in the 20 countries that share the euro slow to 2.5% in June from 2.6% a month earlier.
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