ECB board member Villeroy supports September rate cut, calls it reasonable and sensible

European Central Bank Governing Council member Villeroy backed a rate cut next month after data showed inflation slowed significantly in August. He said the ECB should foresee future progress in curbing inflation. He expects French inflation to remain at the 2% target level by the first half of 2025, and Eurozone inflation to remain at the 2% target level by the second half of next year. "In my view, action should be taken at our meeting on September 12," Villeroy said. "A decision to cut rates again would be reasonable and sensible." This is one of the clearest commitments to cut interest rates at the next meeting. . Some other officials have signaled a rate cut is increasingly likely. This comes after Eurostat data showed consumer prices rose 2.2% year-on-year in August, significantly lower than July's 2.6% rise. (Golden Ten)