ECB Governing Council: Will have to cut interest rates again in December

According to BlockBeats, on November 25, ECB board member Kazaks said in a television interview with Latvian Public Broadcasting Corporation on Monday that the ECB should cut interest rates next month.

“Of course there will be discussions, but I firmly believe that given the current situation in the European economy, another rate cut will have to be made in December,” he said. The ECB has already cut rates three times and is expected to do so again next month. Markets are betting the bank could cut rates by another 50 basis points after PMI data on Friday showed an unexpected contraction in the euro zone’s private sector.

However, data later this week is expected to show inflation above the ECB's 2% target in November.