European Central Bank Governing Council Member Kazaks: The European Central Bank should lower interest rates next month

ChainCatcher news, European Central Bank Governing Council member Kazaks said in a television interview with Latvian public broadcaster on Monday that the European Central Bank should lower interest rates next month. He stated, "Of course, there will be discussions, but I firmly believe that given the current state of the European economy, we must lower rates again in December." The European Central Bank has already cut rates three times and is expected to do so again next month. The PMI data released last Friday showed an unexpected contraction in the eurozone's private sector economy, with the market betting that the bank may further cut rates by 50 basis points. However, data expected to be released later this week is anticipated to show that the inflation rate in November will be above the European Central Bank's target of 2%.