More from ECB’s Schnabel – says wage growth is slowing gradually

European Central Bank board member Isabel Schnabel has been cautious on a June rate cut from the Bank, but not saying no. She has said no to back-to-back cuts though, and is wary of the cutting cycle ahead.

From late last week:

• ECB’s Schnabel says June rate cut may be appropriate, path after is much more uncertain

Schnabel spoke overnight, with the same sort of message. Greg had the comments:

• ECB’s Schnabel says June rate cut may be appropriate, path after is much more uncertain

As further support for a near-term rate cut Schnabel adds now that the data is showing growth in wages slowing.

Schnabel is one of the more level headed of ECB policy setters and is well worth listening to.

Meanwhile, EUR/USD took a beating into and over the FOMC minutes:

This article was written by Eamonn Sheridan at www.forexlive.com.