[ECB Governing Council member Nagel: Don't rush to cut interest rates] Golden Finance reported that the ECB must remain "cautious" and not rush to lower key interest rates. In his speech, Nagel said that the tightening of the job market and economic growth may delay the eurozone's continued recovery of inflation to the central bank's 2% target. He said: "It cannot be taken for granted that prices will return to stability in a timely manner. Therefore, we need to be cautious and never lower the policy interest rate too quickly." The ECB cut its key interest rate in June, and investors expect policymakers to cut rates again at their next meeting on September 12. Earlier on Thursday, data released by the German Statistics Office showed that Germany's inflation rate in August returned to the ECB's target. The German economy shrank in the three months to June, and recent surveys showed continued weakness.