European Central Bank Board Member Kazaks: Currently No Reason to Cut Interest Rates

BlockBeats News, September 16, European Central Bank (ECB) board member Kazakos stated that there is currently no need to cut interest rates. During an interview with TV24 on Tuesday, he said, "The current inflation rate is about 2%, and economic growth can be described as weak. There is currently no reason to lower interest rates." Prior to these remarks, the ECB held its borrowing costs steady for the second consecutive meeting last week, with most policymakers believing that there is no need for further rate cuts but retaining the option to act when necessary.

Kazakos emphasized: "Considering the global economic situation, especially the high degree of geopolitical uncertainty, and the presence of various risks, the central bank is closely monitoring the development of the economic situation and will make necessary decisions." He particularly noted, "Taking this uncertainty into account, coupled with further economic weakness or a significant decrease in inflation below the 2% target level, the ECB may also implement interest rate cuts." (FX678)