ECB Governing Council Member: Will Have to Cut Interest Rates Again in December

BlockBeats News, November 25th, European Central Bank board member Kazaks said in a TV interview with Latvian Public Broadcasting on Monday that the European Central Bank should lower interest rates next month.

He stated, "There will certainly be a discussion, but I firmly believe that, given the current economic situation in Europe, interest rates must be cut again in December." The European Central Bank has already cut interest rates three times and is expected to do so again next month. PMI data released last Friday showed an unexpected contraction in the eurozone's private sector economy, leading the market to bet that the bank may cut interest rates by another 50 basis points.

However, data expected to be released later this week is expected to show that the inflation rate in November will be higher than the European Central Bank's target of 2%. (Jin10)