Olli Rehn
  • We already have plenty of data to make our decision in September
  • Disinflation and a weak economy support a Sept cut
  • Downtrend in inflation is on track
  • We are still seeing strong services inflation
  • The disinflationary process has been ongoing since autumn 2022 and it's still going on
  • Asked about 50 bps, says they always have to be open
  • Says he doesn't want to commit to anything, data dependent

He isn't offering much here, the market is already fully priced for 25 bps.