ECB Foreign Exchange Reference Rates - Dec 30
ECB's Borrowing Cost Reductions to Be Gradual - Council Member Stournaras
European Central Bank Governing Council member Stournaras: The pace of interest rate cuts should be gradual.
Yannis Stournaras, a member of the European Central Bank, believes that the pace of interest rate cuts should be "gradual." "Given the increasing uncertainty, our actions should be gradual and steady, continuing to be based on existing data," said the Governor of the Bank of Greece. "Of course, if future data suggests that medium-term inflation is below target, larger rate cuts should not be ruled out." The European Central Bank has already cut rates four times by 25 basis points each time, and it is expected to continue lowering rates next year. Like Stournaras, most policymakers have expressed a preference for gradual actions, which the market generally interprets as.
ECB's Stournaras Says Pace of Rate Cuts Should Be Gradual
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