ECB's Rehn cites negative growth risk as reinforcing the case for a rate cut in September

European Central Bank Governing Council member Olli Rehn, governor of the Finnish central bank

• There are no clear signs of a pick-up in the manufacturing sector.
• Industrial production may not be as temporary as assumed.
• The recent increase in negative growth risks in the Euro area has reinforced the case for a rate cut at the next ECB monetary policy meeting in September.

The ECB September meeting is on the 12th.