European Central Bank (ECB) board member Piero Cipollone said on Friday that central bank should cut interest rates further to support the recovery in the Eurozone and also in the face of potential new trade tariffs in the US, per Reuters.

Key quotes

The pace and extent of reduction will depend on data.
Developments remain consistent with a consumption-led recovery.
Whether the recovery will firm up remains to be confirmed.
We should not be more restrictive than what is necessary to ensure timely convergence of inflation to target.
It could be self-defeating to tolerate an economy running persistently below potential as an insurance against possible future inflationary shocks.