ECB Governing Council member Fabio Panetta indicated today that the central has entered entering a phase of monetary easing following the rate cut in June. Speaking at an event, Panetta remarked, “The end of monetary restriction has already begun,” adding that discussions are ongoing regarding the ECB’s next steps in September.
While Panetta refrained from sharing his specific views on the upcoming decision, he suggested that ECB is likely to continue easing monetary conditions.
“I believe it is reasonable to expect that from now on, we will move towards a phase of easing of monetary conditions,” he noted, pointing to falling inflation and a slowing global economy as key factors driving this shift.
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