ECB's Knot: Leaning toward June to begin lowering borrowing costs

The European Central Bank (ECB) Governing Council member Klaas Knot said on the weekend that he expects to begin lowering borrowing costs in June, even though it’s premature to say inflation has been defeated.

Key quotes

“I personally penciled in June to start cutting rates,”  

“Where we take it from there is data dependent.”

Market reaction

At the time of writing, the EUR/USD pair is trading lower at 1.0883, down 0.05% on the day.