ECB Likely to Cut Interest Rates

PARIS (Reuters) – The European Central Bank (ECB) is "very likely" to reduce its interest rates next week, said policymaker Francois Villeroy de Galhau on Wednesday.

> "A cut is very likely and it will not be the last one, the rhythm depending on how the fight against inflation evolves," Villeroy told the Franceinfo radio station.

Villeroy, who is also the head of the French central bank, indicated that the ECB would likely cut interest rates later this month due to weak economic growth.

The ECB has already cut rates twice this year from record highs, and markets anticipate further policy easing in October and December as inflation is easing faster than expected.