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European Central Bank Governing Council Nagel: We cannot rush to cut interest rates

The European Central Bank's governing council and Bundesbank president said on Thursday local time that the European Central Bank must remain "cautious" and not rush to cut key interest rates. In his speech, Nagel said that the tightening of the labor market and economic growth may delay the sustained return of euro zone inflation to the central bank's 2% target. He said: "It cannot be taken for granted that prices will return to stability in time. Therefore, we need to exercise caution,...

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2024-08-30 01:54:35