The statements of the members of the European Central Bank today were as follows.
Martens Kazak, the governor of the Central Bank of Latvia, said:
- A significant reduction in interest rates is still necessary to support economic growth.
- The neutral interest rate is closer to 2% than 3%.
- The trend of interest rates is clearly bearish.
- That new loans will become cheaper, which will ease the conditions for borrowing and repayment.
- It is right to go step by step on interest rates.
- A further reduction of interest rates is possible if necessary.
The statements of Francois Villeroy de Galhau, a member of the European Central Bank and president of the French central bank, were also as follows:
- More interest rate cuts are coming.
- I am more confident that the ECB will reduce inflation to 2%.
- I am satisfied with the forecast of market prices for the coming year.
- ECB rates remain well above neutral.
- The European Central Bank has room to cut interest rates.
- France must reform its public finances.
- Uncertainty is the greatest enemy of economic growth.
The statements of the governor of the Bank of Estonia Madis Muller were as follows:
- Temporary fluctuations in inflation are inevitable.
- There was unanimity in the board of governors of the ECB.
- The period of strong inflation is over, and I want to see inflation at about 2%.
- The markets are witnessing further cuts in interest rates by 100 basis points.
- Prices are still relatively high considering the economy.
- Prices are still holding back the economy a little.
- The return to zero interest rates is only in case of emergency.
- I cannot yet measure the impact of Trump's policy on Europe.
