ECB Official Predicts Multiple Rate Cuts This Year, Possibly Starting in June

• ECB official Olli Rehn believes conditions are emerging that will allow several rate cuts this year, with the first cut likely "near summer" • Rehn says that if inflation sustainably stabilizes at 2% and no adverse shocks emerge, there are prerequisites to cut rates several times throughout the year • Some ECB officials believe the first rate cut could come in June once they are convinced inflation is durably returning to 2% • Greece's Yannis Stournaras would like to see two rate cuts before August, followed by two more cuts by the end of the year • Rehn prefers assessing the rate path gradually based on the latest data rather than pre-committing to a schedule of cuts