The European Central Bank is ready to cut interest rates again if the economic situation in euro area continues to weaken, bank's Executive Board member Benoit Coeure said in a radio interview on Saturday.
"We will cut further if indicators confirm situation is deteriorating," reports quoted him as saying during an interview to France Inter.
Last week, the central bank reduced the key refinancing rate by a quarter point to a record low of 0.50 percent. Prior to this move, the bank held the rate steady at 0.75 percent for nine consecutive months.
In its latest economic forecasts released on May 3, the European Commission said that euro area economy may contract 0.4 percent this year, more than 0.3 percent contraction predicted in February.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.