ECB's Weidmann: Don't cut rates too quickly, undecided on whether to cut rates this month

Jin10 data news on October 9th, member Wenshi of the European Central Bank’s management committee warned against lowering interest rates too quickly and stated that he has not yet decided whether to cut interest rates this month. He stated that the economic and inflation trends in the euro area ‘encourage predictable and cautious interest rate cuts.’ ‘If we lower interest rates too quickly, and then have to raise them again, the whole process of communication will be much more complex than if we were cautious, gradually lowering interest rates and then accelerating the process at some point.’ He pointed out that the tense situation in the Middle East is a reason for cautious interest rate cuts, 'if oil prices continue to pump, and at that time we convey the message of accelerating interest rate cuts to the market, we will bear the risk. On the other hand, our economy is weakening, but whether this will change our judgment, it means gradually dropping the interest rate in an environment that is developing in the right direction, it is not clear at the moment.