穆勒在接受采访时承认，“如果你看看金融市场的定价预期，就会发现至少还有一次降息的预期，但我个人不会发表评论。”The European Central Bank on Thursday kept the deposit rate unchanged at 3.75%, and President Lagarde stated that the next policy meeting on September 11-12 is "very open".
According to the Wisdom Financial APP, Madis Muller, a member of the European Central Bank's management committee and governor of the Bank of Estonia, said that the European Central Bank should not make commitments about a certain outcome before the next meeting.
"I think it's important that if the European Central Bank's management committee meeting is held in September, we won't make too many commitments in advance," said Muller on Friday. He also said that he finds it difficult to predict how many interest rate cuts there will be in 2024.
Muller admitted in an interview, "If you look at the pricing expectations in the financial markets, you will find that there is at least an expectation of an interest rate cut, but I personally will not comment."
The European Central Bank on Thursday kept the deposit rate unchanged at 3.75%, and President Lagarde stated that the next policy meeting on September 11-12 is "very open". However, due to persistent inflationary pressures, officials are becoming less and less confident about the reality of further two interest rate cuts, and they do not want investors to think that a rate hike in September is a foregone conclusion.
Muller said, "We know that there are still fluctuations in consumer price growth," and emphasized that the services industry inflation rate is about 4% and the wage growth rate is 5%, which is not consistent with the 2% target.
However, he said: "I think that inflation will continue to show a downward trend in the next 12 months, this is a reality."
French central bank governor believes that two interest rate cuts are "quite reasonable"
French central bank governor Francois Villeroy de Galhau said on Friday that the market's expectation of the European Central Bank's future interest rate path is "quite reasonable".
"In my opinion, the market's expectation of the interest rate trend seems quite reasonable," Villeroy said when asked if he agreed with the expectation that there could be interest rate cuts in September and December.
The market expects that the European Central Bank will cut interest rates about twice for the remaining year, and will cut interest rates about five times by the end of next year. In the past few weeks, no policy maker has publicly questioned this view.
Villeroy said: "Overall, we are achieving our 2% inflation target and forecast for next year." "I even have to say this morning that unless there is any shock, this is not just a prediction, it is a commitment."