European Central Bank Kazaks: Believes there is no need for further interest rate cuts

ChainCatcher news, according to Jinshi reports, ECB Governing Council member Kazaks stated that there is no reason to further lower interest rates unless the economy suffers a significant blow. He mentioned that with inflation at 2%, the Eurozone's performance is largely in line with the ECB's latest forecasts, so the rationale for a rate cut in September is not obvious, which is also the expectation of most economists ahead of this week's meeting.

He stated, "Maintaining interest rates at the current level is valuable; the era of raising or lowering rates without thinking is over." "At this critical moment, a robust policy is appropriate." According to informed sources, keeping interest rates unchanged seems to be the baseline for the ECB's next meeting, and policymakers advocating for another rate cut will face a tough battle.