Yesterday, Tuesday, some members of the European Central Bank made some statements related to interest rates and inflation in the Eurozone. Below are the most important statements by the members:
Postian Fasl
ECB member Bostjan Vasl said that further interest rate cuts are possible if things go as expected, but we need more economic data to confirm the path of inflation.
He also pointed out that the labor market is very important for the next steps, noting that care must be taken not to declare victory over inflation too early, adding that the labor market in the eurozone is still tight, which has caused wage pressure.
Mario Centeno
In this regard, the ECB policymaker stated that there is confidence that inflation will reach the bank's 2% target next year, so the ECB can look at each meeting to make interest rate decisions.
The ECB member added that we must be careful about prices, especially since we are still hesitant about assessing growth, and he also pointed out the need for monetary policy to help achieve economic recovery.
Madis Muller
In a related context, ECB member Madis Müller said that it is likely that we will be able to cut interest rates again before the end of this year, but we should not rush to do so, as the ECB must be patient with further interest rate cuts, especially since there is a risk of underestimating the stability of inflation.
Philip Lane
In this regard, Philip Lane, a member of the European Central Bank, stated that the inflation data for June seemed consistent with our assessment, however, services inflation is still necessary, so the European Central Bank needs to make sufficient efforts to assess inflation.
Year Winch
In this context, European Central Bank member Pierre Wunsch said that, barring major negative surprises, the European Central Bank has room to cut interest rates for the second time in a row this year, and this will happen when the European Central Bank is confident that inflation is heading towards 2%.
