European Central Bank Governing Council member Villeroy de Galhau said on Friday that inflation in the Eurozone has slowed and is moving towards the ECB's target. He also expressed confidence that the inflation target will be reached next year.
In addition, the official noted that the ECB will probably be able to continue lowering rates and added that he is among those who state the cuts should proceed.
Villeroy also emphasized that the exact rhythm of rate cuts will be determined in the coming months.