German Minister Expects ECB Rate Cut Soon, Hopes More Follow

(Bloomberg) -- German Economy Minister Robert Habeck said he hopes more interest-rate cuts will follow after the European Central Bank begins its widely anticipated monetary easing cycle this week.

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“Inflation is retreating toward 2%,” Habeck said Monday at a East German business forum in Bad Saarow near Berlin. “I think the ECB will cut the key interest rate in the near future and hopefully further interest-rate cuts will follow.”

Economists have dialed back their expectations for how far the ECB will lower rates after it starts cutting at its meeting on Thursday in Frankfurt, according to a Bloomberg survey published last week.

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