As Bank of Italy Governor, Fabio Panetta is also a member of the European Central Bank Governing Council. On Saturday he spoke at a news conference at the end of the G7 finance leaders meeting saying that he sees "a fairly general consensus has emerged on the possibility of a rate cut".
We've certainly been getting a consensus out of ECB officials that a June cut is happening, these are from Friday:
- ECB's Nagel: The probability of a June rate cut is increasingECB's Nagel: The probability of a June rate cut is increasing
- As Justin said on Nagel: For one of the more hawkish members, the headline comment is pretty much a concession that they will cut rates in two weeks' time.
- ECB's Schnabel: A June rate cut is likely
ECB rates:
![ecb rates 26 May 2024 2](https://images.forexlive.com/images/ecb%20rates%2026%20May%202024_id_80abe593-689a-4e88-8c50-0d6ac649907b_size900.jpg)