European Central Bank Governing Council member Boris Vujcic said on Monday that the ECB is not talking about cutting interest rates now and probably will not lower them before the summer. The official noted that while the Eurozone’s inflation will continue to gradually ease, the rate-setters want to be convinced of the slowdown and will await data on the region's labour market.
Vujcic also suggested that the euro area will avoid a recession. In his opinion, they will have a mild cooling while achieving the ECB's goal to lower inflation.