ECB’s Centeno: Should start cutting rates sooner rather than later

European Central Bank (ECB) policymaker Mario Centeno said on Monday that the central bank “should start cutting rates sooner rather than later, but avoid abrupt moves.”

Additional quotes

Inflation is decreasing in a sustained manner.

Almost all factors that drove prices up have dissipated.

No need to wait for wages data in May to make rate decisions.

There are no visible second-round effects of wage hikes.

Market reaction

EUR/USD is heading lower toward 1.0800 on the above comments, losing 0.26% on the day.