European Central Bank member: We need strong evidence to reduce interest rates by 0.50%.

European Central Bank member Jibril Makhlouf made the following statements on Monday:

• I believe in the necessity of taking a cautious approach regarding the course of monetary policy; the policy is functioning as it is.
• It would be somewhat premature to say that "a rate cut in December" is a foregone conclusion.
• Let's see what the data tells us, but it's reasonable to assume we are on a downward path regarding price movements.
• The evidence must be strong for the European Central Bank to cut interest rates by 50 basis points at the December meeting.
• Inflation in the services sector is still slightly higher than I would prefer.
• Wisdom and caution have positive effects; the ECB should continue to operate this way.
• I do not feel the need to rush at this time.
• We need to think like long-distance runners.
• I do not believe that the ECB's task of taming inflation has been accomplished yet.