ECB Official Advocates December Rate Cut Amid Economic Concerns

According to BlockBeats, on November 25, European Central Bank (ECB) Governing Council member Kazaks expressed in an interview with Latvian Public Broadcasting that the ECB should consider lowering interest rates next month. He emphasized that, given the current state of the European economy, a rate cut in December is necessary. The ECB has already reduced rates three times, and another reduction is anticipated next month. Recent data released last Friday indicated an unexpected contraction in the Eurozone's private sector economy, leading markets to speculate on a potential further rate cut of 50 basis points by the ECB. Despite these economic challenges, data expected later this week is projected to show that November's inflation rate will exceed the ECB's target of 2%.