As world’s central banks wrestle with when to cut rates, Europe signals it’s ready to move

By DAVID McHUGH
AP Business Writer

FRANKFURT, Germany (AP) — The European Central Bank has opened the door for an interest rate cut as early as its June meeting. The bank left rates unchanged Thursday but said there are signs that inflation is finally heading toward its goal of 2%.Bank President Christine Lagarde said that if incoming data confirm that, it could be time to lower credit costs for the economy. The rate signal in Europe comes as central banks around the world including the U.S. Federal Reserve are trying to decide when to take back some of the rate hikes they imposed to quell the recent outburst of inflation.