ECB Governing Council member Kazaks: There is currently no reason to cut interest rates

Jinse Finance reported that European Central Bank Governing Council member Kazaks stated that there is currently no need to lower interest rates. In an interview with TV24 on Tuesday, he said: The current inflation rate is about 2%, and economic growth can be described as weak. At this stage, there is no reason for a rate cut. These remarks came before the European Central Bank kept borrowing costs unchanged for the second consecutive meeting last week. Most policymakers believe there is no need for further rate cuts, but at the same time, they retain the option to act if necessary. Kazaks emphasized: Considering the high uncertainty in the global economic situation, especially geopolitics, and the continued existence of various risks, the central bank is closely monitoring economic developments and will make necessary decisions. He specifically pointed out that if such uncertainty is taken into account, coupled with further economic weakness or if inflation begins to fall significantly below the 2% target level, the European Central Bank may also implement rate cuts. (Golden Ten Data)