A member of the European Central Bank anticipates the full abandonment of the tightening monetary policy.

On Tuesday, European Central Bank (ECB) member Olli Rehn made some statements regarding the economic conditions and the path of monetary policy, as well as potential tariffs that may be imposed by President-elect Donald Trump. Here are the main points the European official addressed:

• The pace of monetary policy adjustments depends on incoming economic data.
• The ECB relies on data, not on a single point or release of data.
• Growth expectations in the Eurozone have deteriorated due to the manufacturing sector.
• If inflation remains on the right track, it will be a case for further interest rate cuts.
• We may stop tightening monetary policy in the spring of 2025.
• The last thing we need now is another trade war.
• The impact of tariffs will be medium to long-term.
• The ECB sees negative risks to growth.
• Await the release of the December macroeconomic forecasts for a better picture of the ECB's position.