European Central Bank Governing Council member Pablo Hernandez de Cos in an article in Spain's La Ra

The HICP reading was 2.4% compared to 2.6% expected.

  • Recent decline in general inflation and core inflation show that monetary policy is being transmitted forcefully
  • We are not explicitly giving forecasts on future monetary policy but recent inflation data is compatible with our mandate of inflation goal
  • Central scenarios point to a first rate cut in June