ECB'S KNOT: CENTRAL BANK SHOULD KEEP OPEN MIND ON NEXT RATE CUT
The European Central Bank (ECB) Governing Council member Klaas Knot said on Saturday that the ECB should keep its options open regarding future interest rate moves, per Reuters.
Key quotes
"It is important that we keep all options open. Retaining full optionality would act as a hedge against the materialization of risks in either direction to the growth and inflation outlook.”
"We believe that our meeting-by-meeting and data-dependent approach has served us well.”
"We will have to see whether that was a little bit over-enthusiastic or not. We will only know once we do our own calculations again in December.”
"On the one hand, policy restriction may be reduced more quickly if incoming data indicates a sustained acceleration in the speed of disinflation or a material shortfall in the economic recovery.”
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