ECB's Panetta: Growing consensus within policymakers on possible rate cut

European Central Bank (ECB) executive board member Fabio Panetta said on Monday that the inflation in the Euro area was quickly declining toward the 2% target and added that the inflation trend was making a rate cut possible, per Reuters.

"The consensus emerging - especially in recent weeks - within the ECB governing council points in this direction," Panetta added.

Market reaction

These comments failed to trigger a noticeable market reaction. At the time of press, the EUR/USD was trading marginally higher on the day at 1.0820.