ECB’s Makhlouf Sees Only One More Rate Cut This Year, Reuters Says

European Central Bank Governing Council member Gabriel Makhlouf said he’s comfortable with just one more interest-rate reduction this year as he needs more time to gain confidence inflation is headed to the 2% target, Reuters reported.

“I am comfortable with expectations of another cut,” Makhlouf said on the sidelines of the ECB’s Forum on Central Banking in Sintra, Portugal, according to Reuters. “I think two cuts today, at the beginning of July, is probably going a little bit too far. I’m not saying I’d rule it out.”