ECB's Vasle: rate cutting is likely to be slower than hiking was

• 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.