European Central Bank executives: Inflation is almost under control, further interest rate cuts need to be carefully considered.

According to the Securities Times, European Central Bank (ECB) Governing Council member and Governor of the Bank of Italy Fabio Panetta indicated that inflation has almost been fully controlled, but he also warned that further interest rate cuts would require extremely careful consideration. In a speech on Friday, Fabio Panetta welcomed the progress made by policymakers, but also pointed out that the decision whether to continue lowering borrowing costs would not become easier. He stated: "The anti-inflation process has not had a significant impact on the economy and is now close to completion." "Previous interest rate cuts have obviously reduced the space for further rate cuts. However, the macroeconomic outlook remains weak, and trade tensions could further deteriorate it."