ECB's Simkus: No obvious case for 50 bps rate cut - Breaking The News

ECB's Simkus: No obvious case for 50 bps rate cut

25 October

1 min read

EPA-EFE/VALDA KALNINA

Member of the European Central Bank (ECB) Governing Council and Bank of Lithuania Governor Gediminas Simkus (pictured) stated on Friday that he does not see there is evidence to support the former institution's next reduction of its interest rates should be a 50 basis point (bps) one.

Speaking to the press upon his participation in the International Monetary Fund's (IMF) annual meeting in Washington DC, Simkus still supported the further lowering of the rates as he estimated the Eurozone is on a "disinflationary path." He also noted that the bloc's economic growth is not impressive at the moment but "not doing that badly."

Previously, his ECB colleague Joachim Nagel described the expert public's speculation about the bank's next monetary policy move as "not helpful."

inflation interest rate ecb simkus

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