ECB Member De Cos: It is too early to think about cutting rates

European Central Bank monetary policy member Pablo de Cos said on Monday that the European Central Bank is not expected to return for any guidance on monetary policy.

De Cos added that it is too early to start talking about the ECB cutting interest rates.

It should be noted that European Central Bank policymaker François Villeroy had previously stated that the pace of increases in inflation has witnessed a significant decline and it is clear that core inflation exceeded the peak level in the spring after the central bank began tightening monetary policy last year. .

The European official added that the decline in inflation in the euro zone is clear evidence of the effectiveness of monetary policy, which justifies stopping the interest rate hike that the European Central Bank has decided so far. Villeroy added that the ECB can now be confident of returning inflation to around 2% by 2025, but with the importance of being patient, as well as the ECB keeping interest rates at the current level for a period of time commensurate with the monetary tightening cycle being fully transmitted through the economy.

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