Cutting interest rates too soon would be much worse than leaving them where they are for too long, according to European Central Bank Governing Council member Peter Kazimir. “The policy mistake of premature easing would be more significant than the risk of staying tight for too long,” the Slovak official said Monday in a statement. “Prudence is the key. We’re closely watching the economic indicators but will not make hasty moves. This isn’t the time to relax our vigilance.” Kazimir said the ECB is increasingly confident that inflation will reach the 2% target in 2025, but this is “still subject to risks.” — ... (full story)