ECB’s Kazāks: Expect Continued Cuts of Same Magnitude, Unless Economy Does Worse Than Expected

ECB’s Kazāks: Expect Continued Cuts of Same Magnitude, Unless Economy Does Worse Than Expected

From econostream-media.com

The European Central Bank will probably continue to take similarly-sized rate steps as long as the economic outlook does not worsen even further, ECB Governing Council member Mārtiņš Kazāks said Wednesday. In an interview on the margins of the annual conference of Latvijas Banka, which he heads, Kazāks, who reviewed his comments on Sunday, strongly supported an October cut but declined to venture an explicit guess as to what would happen in December. ‘If we see in October that we can cut rates – and I think we can – then we will do so’, he said. ‘What we do in December, when we have a new set of ... (full story)

wow

Economy is doing far worse than what ECB officially expected on their previous meetings. So should be a 50bps then.

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