Reuters reported comments delivered by European Central Bank (ECB) policymaker Isabel Schnabel during an interview conducted on May 16.
Key quotes
A June rate cut is likely.
The decision won't be made until the day the Governing Council meets.
If data gives us confidence that price target can be met sustainably, a June rate cut will be likely.
Some elements of inflation are proving persistent, services in particular.
Would caution against moving too quickly on rate cuts.
Market reaction
EUR/USD is holding the rebound near 1.0830, despite the dovish comments. The pair is up 0.17% on the day.
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