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European Central Bank Governor Vujcic: Predictions point to further interest rate cuts.
Boris Vujcic, a member of the European Central Bank's Governing Council, believes that the central bank is likely to lower borrowing costs again. "If the data released in the future – we say we rely on data – aligns with our predictions, then we can definitely continue to lower interest rates," the Croatian central bank governor reiterated on Tuesday. "The direction of predictions indicates further declines in interest rates." The European Central Bank has cut interest rates four times this year, bringing the deposit rate down to 3%. Economists expect that policymakers will continue to reduce rates by 25 basis points until they reach 2% in June. When asked how far the European Central Bank might go with rate cuts, Vujcic said.