ECB governing council member Moulin said falling oil prices have eased price pressures in the euro area, leaving the central bank well positioned after last month's rate hike. He said it is too early to forecast the July and September meetings but officials have made clear "we will not enter a new rate-hiking cycle." Moulin added "for now we are in a favourable position" and that the "risk balance is at a reasonable level." He said the oil decline should relieve services inflation and that "we h

ECB governing council member Moulin said falling oil prices have eased price pressures in the euro area, leaving the central bank well positioned after last month's rate hike. He said it is too early to forecast the July and September meetings but officials have made clear "we will not enter a new rate-hiking cycle." Moulin added "for now we are in a favourable position" and that the "risk balance is at a reasonable level." He said the oil decline should relieve services inflation and that "we have not yet seen second-round effects."