ECB’s Makhlouf: We are near the bottom of the easing cycle

  • Comments from the ECB policymaker to the Financial Times
ECB
  • We’re not on a predetermined path
  • I’m pleased with where we are
  • There’s still so much uncertainty
  • It would be a bit of a mistake to say we know exactly where we’re going to be

He’s not saying anything new here, but given that he said “we are near the bottom” suggests he’s still open for a rate cut. That puts him into the neutral/dovish camp, which is anyway in the very minority at the moment.

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