By Michael S. Derby NEW YORK (Reuters) -Federal Reserve Bank of Boston President Susan Collins said on Wednesday she's leaning toward the central bank cutting rates later this year amid an uncertain outlook.

Federal Reserve Bank of Boston President Susan Collins said Thursday she expects the central bank to implement at least one interest-rate cut this year, while signaling a July move -- which several of her colleagues have floated -- would be too soon.

"I don’t see an urgency to adjust rates," said Susan M. Collins, president of the Federal Reserve Bank of Boston. "We do not have that sustained price stability that I’m looking for."