ECB's de Guindos optimistic about continued rate cuts in Presse interview
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FILE PHOTO: European Central Bank (ECB) Vice-President Luis de Guindos arrives at the Presidential Palace for a meeting with Cyprus President Nikos Christodoulides in Nicosia, Cyprus, October 4, 2023. REUTERS/Yiannis Kourtoglou/File Photo
BERLIN (Reuters) -There is reason to be optimistic about the European Central Bank's current phase of rate cuts continuing, Vice President Luis de Guindos said in an interview to be published in the Saturday edition of Austria's Die Presse newspaper.
The ECB cut interest rates for the seventh time in a year last month and warned that economic growth will take a big hit from U.S. tariffs, bolstering bets for even more policy easing in the months ahead.
"It depends on how inflation develops. But we can be optimistic here," de Guindos said, when asked how long the phase of interest rate cuts would continue.
"According to our latest forecasts, inflation will be very close to our target of 2% from the end of the year," he said in the interview published online on Friday.
(Writing by Miranda Murray; Editing by Kirsten Donovan)
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