The European Central Bank (ECB) Governing Council member and  Governor of the Bank of Greece, Yannis Stournaras, said on Friday that the central bank will probably lower borrowing costs three times this year instead of four, according to Bloomberg. 

Key quotes

“We now consider three rate cuts in 2024 as the more likely scenario.”

“If this pace of economic growth continues, then consumer-price growth is likely to be marginally higher than our March forecast, but without jeopardizing the 2% target in mid-2025,” 

“The most recent euro-zone GDP figures were a positive surprise.”