MNI BRIEF: Logic Says ECB Will Cut In Next Meetings - Escriva

If incoming data in the Eurozone continue to converge to the 2% inflation target, “its logic that we will continue to lower rates in the next meetings,” Bank of Spain Governor Jose Luis Escriva said on Friday.

In an interview with an Spanish TV, Escriva said that the Governing Council agreed to continue to have a “gradual approach” with 25 basis points movements that allows a moderate effect on the economy and inflation.

On Thursday, the ECB cut its main deposit facility rate by 25BP to 3.0% (see MNI ECB WATCH: ECB Cuts 25BP, Drops Restrictive Language)