European Central Bank (ECB) Governing Council member Mario Centeno said on Friday that the latest ECB interest rate decision was "fortunately absolutely consensual." He added that the bank is likely to continue cutting rates until they fall close to 2% in the coming quarters in the absence of shocks to the euro area economy.

Centeno repeated that the ECB's approach to cutting rates will remain gradual and that monetary policy in the Eurozone remains restrictive. After the central bank's 25 basis-point cut yesterday, interest rates on the deposit facility, the main refinancing operations, and the marginal lending facility stand at 3.00%, 3.15%, and 3.40% respectively.