European Central Bank (ECB) board member Joachim Nagel emphasized that the ECB's recent decision to cut interest rates was not premature and was based on logical reasoning. Nagel stated that the tendency of inflation is going down, which justified the rate cut. He also clarified that the ECB is not on autopilot regarding interest rate decisions and will continue to act restrictively despite the lowered rates. The ECB will assess economic data continuously before making further decisions. Additionally, ECB board member Martins Kazāks noted that further interest rate cuts should be gradual and data-driven.
NAGEL: ECB RATE CUT REFLECTS RECEDING INFLATION
💡 ECB’s Kazāks: Further Interest Rate Cuts Should Be Gradual and Data-Drive - @EconoStream on https://t.co/orvmA6WYlS Full Story → https://t.co/sjCZUScQiN
💡 ECB’s Nagel: Interest Rate Cuts Decisions Are Not on Auto-Pilot - @EconoStream on https://t.co/orvmA6Wqwk Full Story → https://t.co/OamnTljJ5M
⚠️ ECB'S NAGEL: **DECISION TO LOWER RATES WAS LOGICAL, TENDENCY IS THERE THAT INFLATION IS GOING DOWN **DECISION TO CUT RATES WAS NOT PREMATURE **ARE STILL ACTING RESTRICTIVELY DESPITE LOWERED RATES **WE'RE NOT ON AUTOPILOT, WILL LOOK AT THE DATA AND DECIDE ANEW EVERY…
ECB's Nagel: The decision to cut rates was not premature https://t.co/VDpUT7vNxJ
ECB'S NAGEL: WE ARE STILL ACTING RESTRICTIVELY DESPITE LOWERED RATES.
ECB'S NAGEL: THE DECISION TO CUT RATES WAS NOT PREMATURE.
ECB'S NAGEL: THE DECISION TO LOWER RATES WAS LOGICAL, TENDENCY IS THAT INFLATION IS GOING DOWN.
ECB's Nagel: Policy is not auto pilot when it comes to rate cuts https://t.co/6fMLBK7zAm
ECB'S NAGEL: ECB ISN'T ON AUTOPILOT ON INTEREST-RATE CUTS.