European Central Bank Governing Council member Olli Rehn noted on Monday that inflation in the euro area is converging to the ECB's 2% target in a sustained way. "The time is thus ripe in June to ease the monetary policy stance and start cutting rates," he concluded.
The official, however, stressed that this obviously assumes that the disinflationary trend will continue and there will be no further setbacks in the geopolitical situation and energy prices.