ECB’s Panetta Suggests Inflation Is Almost Defeated in Euro Zone

European Central Bank Governing Council member Fabio Panetta signaled that inflation is nearly fully tamed, while cautioning that further interest-rate cuts require finely balanced judgments.

Speaking on the day that his country and two other major euro-zone economies release consumer-price data, the Bank of Italy governor hailed policymakers’ progress but warned that their decisions from now on about whether to keep reducing borrowing costs won’t get any easier.