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Joachim Nagel, governor of the German central bank, said that the European Central Bank was expected to reduce borrowing costs at its next meeting.
"If the situation remains as it is and the forecast does not say anything completely different, then the possibility of taking the first step of interest rate reduction will increase," he told reporters.
He is in the Group of Seven Long and In his speech on the sidelines of the meeting, the governor of the Central Bank stressed that even if actions were taken in June, "it is important for me that this decision should not make people feel that it will go down all the way."
The signal of interest rate cut at the meeting on June 6 has been widely released, but most European Central Bank policy makers are vague about their actions after the meeting. Nagel did not want to talk about this topic, but also avoided the question about the possible scale of the first interest rate cut. Luis de Guindos, Vice President of the European Central Bank, suggested earlier this week that it would be appropriate to cut interest rates by 25 basis points.
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