(Bloomberg) -- European Central Bank Governing Council member Olli Rehn joined fellow policymakers in endorsing June as the right moment to begin lowering interest rates. 

“Provided that we are confident that inflation will continue converging to our 2% target in a sustained way, the time will be ripe in June to start easing the monetary policy stance and to cut rates,” he said in a speech in Washington on Thursday. “This obviously assumes that there will be no further setbacks in the geopolitical situation and thus in energy prices.”

Speaking on the sidelines of the spring meetings of the International Monetary Fund and the World Bank, Rehn reiterated that the ECB will base its decision on incoming economic data and isn’t pre-committing on any future steps.

For full speech, click here

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