European Central Bank member: There is no need to accelerate the pace of the interest rate cut cycle.

Pierre Wunsch, a member of the Monetary Policy Committee of the European Central Bank and Governor of the National Bank of Belgium, stated on Monday morning that it is too early to discuss the policy decision for the upcoming December meeting.

Furthermore, Wunsch mentioned that there is no urgent need to take further steps to accelerate the easing of monetary policy by the European Central Bank, clarifying that temporarily achieving the inflation target of 2%, due to fluctuations in energy prices, is acceptable.

Previously, European Central Bank member Holzmann had stated that market pricing regarding the size of interest rate cuts is largely aggressive, adding that some members of the ECB may vote in favor of a significant rate cut at the December meeting.

However, Holzmann noted that current economic data does not justify the European Central Bank reducing interest rates by 50 basis points at the next meeting.