ECB should cut each meeting until it reaches 2%, Stournaras says

The European Central Bank should lower borrowing costs at each meeting until it reaches a level that neither restricts nor stimulates economic activity, according to Governing Council member Yannis Stournaras.

“As inflation develops now and as the real economy develops now, I think yes we should have a cut in every meeting from now on until we get to what we call the neutral rate,” the Greek central-bank chief told Bloomberg TV on Thursday. “This is an illusive concept but according to the estimates, it’s about 2%.”

Source: Bloomberg