ECB's de Cos: Next move will be a rate cut

European Central Bank (ECB) policymaker Pablo Hernandez de Cos said on Thursday that the next policy move will be a rate cut but added that they still need some time to figure out the exact timing of the policy pivot, per Reuters.

De Cos noted that ECB's projections foresee inflation and core inflation to continue falling.

Market reaction

These comments don't seem to be having a noticeable impact on the Euro's performance against its major rivals. As of writing, EUR/USD was trading modestly higher on the day at 1.0736.