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ECB's Kazaks: No Need for Further Interest Rate Cuts
Summary: According to sources, European Central Bank board member Kazaks stated that there is no reason to further lower interest rates unless the economy suffers a major blow. He mentioned that with inflation at 2%, the Eurozone's performance aligns with the ECB's latest forecasts, making the rationale for a rate cut in September unclear, as most ...
According to sources, European Central Bank board member Kazaks stated that there is no reason to further lower interest rates unless the economy suffers a major blow. He mentioned that with inflation at 2%, the Eurozone's performance aligns with the ECB's latest forecasts, making the rationale for a rate cut in September unclear, as most economists had anticipated. Kazaks emphasized the value of maintaining rates at current levels, stating that the era of raising or lowering rates without much thought has ended. At this critical moment, prudent policies are appropriate. Insiders revealed that keeping rates unchanged seems to be the ECB's bottom line for the next meeting, and policymakers pushing for further rate cuts will face a tough battle.
