European Central Bank Governing Council Member Kazaks: There is currently no need for further interest rate cuts

European Central Bank Governing Council member Kazaks stated that there is currently no need for further interest rate cuts, as the inflation rate has reached the 2% target and the economic outlook has not changed significantly. He pointed out that the European Central Bank has entered a new phase of monetary policy, where officials will focus on economic monitoring rather than intervention. Although trade agreements have reduced uncertainty, the 15% tariffs still weigh on economic growth, but signs of recovery in manufacturing and slowing wage growth have strengthened confidence in medium-term inflation stability. Kazaks believes that the market's understanding of the central bank's policy is consistent with the baseline and does not expect an interest rate cut at next month's meeting