Business Update: European Central Bank's Philip Lane Advocates for Gradual Interest Rate Cuts
Monday, 16 September 2024, 06:54
The European Central Bank should keep cutting interest rates gradually, its chief economist Philip Lane said today, after policymakers reduced borrowing costs last week for the second time this year. This news reflects an ongoing strategy aimed at controlling inflation while ensuring the business environment remains supportive.
Policy Outlook
Lane emphasized that continued interest rate reductions are essential for economic growth.
Key Points:
- Gradual cuts are vital for managing inflation.
- Immediate drastic changes could destabilize the market.
- Ongoing assessments will guide future decisions.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.