TechFlow news, September 16 — According to Jinshi Data, European Central Bank (ECB) Governing Council member Kazaks said that there is currently no need to cut interest rates. In an interview with TV24 on Tuesday, he stated: "Current inflation is around 2%, and economic growth is rather weak. There is no justification for rate cuts at this stage." His remarks came after the ECB held borrowing costs steady for the second consecutive meeting last week, with most policymakers seeing no need for further rate cuts while keeping open the option to act if necessary. Kazaks emphasized, "Given the high degree of uncertainty in the global economy—especially regarding geopolitical issues—and as various risks persist, the central bank is closely monitoring economic developments and will make necessary decisions." He specifically noted, "If we take into account this uncertainty, along with further economic weakness or if inflation begins to run significantly below the 2% target level, the ECB could also implement rate cuts."
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