He had previously say that the ECB should continue with “a series of rate cuts” last week. So, the remark above is consistent with that. The current deposit rate is 3.00%, so he is pretty much touting four more 25 bps rate cuts essentially.
As for market pricing, traders are seeing ~96 bps of rate cuts for the year in total as of today.
This article was written by Justin Low at www.forexlive.com. Source