- Rate cutting is likely to be slower than hiking was.
- Inflation has slowed markedly in recent months.
- Risks to the disinflation process remain.
- Persistent wage gains coould slow disinflation.
- Services costs and political tensions are other risks.
- Decisions are to be made meeting by meeting.
Vasle is a hawk, so these comments are not surprising. The governing council is anyway pretty compact on the view that they will wait for the data until September before taking a decision.
![ECB's Vasle](https://images.forexlive.com/images/ECB%27s%20Vasle_id_1c0e1b8a-6f8d-4641-a5b9-3ca7bd5cfa61_original.jpg)
ECB's Vasle