[ECB Governing Council Member Kazaks: No Reason to Cut Interest Rates for Now]
BlockBeats News, September 16 – ECB 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 around 2%, and economic growth can be described as weak. At this stage, there is no reason to cut interest rates.'
This statement comes after the European Central Bank kept borrowing costs unchanged for the second consecutive meeting last week, with most policymakers believing there is no need for further rate cuts while still retaining the option to act if necessary.
Kazaks emphasized: 'Given the high level of uncertainty in the global economic situation, particularly with geopolitical risks, and the persistence of various risks, the central bank is closely monitoring economic developments and will make necessary decisions.' He specifically noted, 'If we consider this uncertainty, coupled with further economic weakening or inflation falling significantly below the 2% target level, the ECB may also implement rate cuts.' (Jin10)
