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2025-09-16 15:25:29
[ECB Governing Council member Kazaks: There is no reason to cut interest rates at the moment] ECB Governing Council member Kazaks said that there is no need to cut interest rates at the moment. In an interview with TV24 on Tuesday, he said: "The current inflation rate is around 2%, and economic growth can be described as weak. There is no reason to cut interest rates at this stage." Before these remarks were made, the ECB kept borrowing costs unchanged for the second consecutive meeting last week. Most policymakers believed that there was no need for further interest rate cuts, but at the same time reserved the option to take action if necessary. Kazaks emphasized: "Given the high uncertainty in the global economic situation, especially geopolitics, and the various risks that still exist, the central bank is closely monitoring economic developments and will make the necessary decisions." He specifically pointed out that "if this uncertainty is taken into account, coupled with further economic weakness, or inflation begins to fall significantly below the target level of 2%, the ECB may also implement an interest rate cut."
