The European Central Bank (ECB) policymaker Bostjan Vasle said on Wednesday that the deposit rate should be "much closer" to 3% by the end of the year from a record high of 4% currently if disinflation continues as expected. 

Key quotes

"We should be much closer to 3% towards the end of the year if everything goes according to plan.”

 "Some worrying developments in the Middle East.”