Prospects for the euro-zone economy to recover next year and uncertainty over the strength of wage growth mean there’s no reason for the European Central Bank to rush into cutting interest rates, according to Governing Council member Klaas Knot. While the latest slowdown in inflation was a “very welcome confirmation” that the ECB’s monetary-tightening campaign is effective, it’s still too soon to declare victory, Knot told German newspaper Boersen-Zeitung in an interview. Based on currently available information, a rate cut in the first half of next year is “rather unlikely,” he said. The ECB kept borrowing costs ... (full story)