Mario Centeno, a member of the European Central Bank's (ECB) Governing Council, recently shared insights on the bank's latest interest rate decision, emphasizing a unanimous consensus within the council. Centeno stated that the ECB is likely to continue reducing rates, aiming for a target close to 2% in the upcoming quarters, provided there are no significant economic disruptions within the Eurozone.

The ECB's approach to rate adjustments is expected to remain gradual, maintaining a restrictive monetary policy stance. Following the recent 25 basis-point cut, the current rates stand at 3.00% for the deposit facility, 3.15% for the main refinancing operations, and 3.40% for the marginal lending facility.