Dutch policy maker Klaas Knot saidLuxorpokerroomEurozone inflation is falling to 2 per cent and geopolitical pressures pose only modest risks, but the ECB should proceed cautiously after its first interest rate cut in June.

The ECB has almost promised to cut interest rates on June 6, and policymakers are now discussing how to cut rates in the coming months. The rise in oil prices followed an unexpectedly high increase in US inflation data.LuxorpokerroomIt makes it possible for the Federal Reserve to postpone the start of its own easing cycle.

"I am increasingly confident in the anti-inflationary process," Mr Nott said in an interview on Monday, adding that a June rate cut would be realistic if price and wage data continued to meet expectations.

But Nott is more cautious about the next steps.

"after June, I would like to say that there is no prior commitment to any specific time path," he said. "

Mr Nott stressed the relevance of the quarterly data, but did not hint as before that the ECB could also cut interest rates when it released new forecasts in September and December.

However, he also played down the importance of the Fed delaying interest rate cuts.

Some argue that the Fed's hesitation could weaken the euro, push up imported inflation and force the ECB to delay action.

In fact, the market is now expected to cut interest rates by just 66 basis points this year, compared with well over 100 basis points more than a month ago.

"if the root cause of the devaluation of the euro is the Fed's tightening of monetary policy, then tighter monetary policy could also lead to a rise in global bond yields and spread to the eurozone, a spillover effect that will dampen inflation," Nott said. "

"therefore, I don't think this factor should be overestimated."