ECB May Need to Cut Rates Again in Sept, Rehn says
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19 August 2024 The European Central Bank may need to cut interest rates again in September given persistent economic weakness, Finnish central bank chief Olli Rehn said on 19th August. The ECB was among the first major central banks in the world to cut interest rates in June, partially reversing a record string of hikes, but held rates steady in July and gave no firm signals about its upcoming Sept. 12 meeting. With more and more data coming in about prices and the health of the economy, Rehn has become one the first on the ECB’s 26-member Governing Council to offer a view on the appropriate course ahead. “The recent increase in negative growth risks in the euro area has reinforced the case for a rate cut at the next ECB monetary policy meeting in September, provided that disinflation is indeed on track,” Rehn said in a speech to the European American Chamber of Commerce in New York. To find out more details please visit : https://www.reuters.com/ |