The European Central Bank Supervisory Committee collectively speaks out:6The month is about to cut interest rates, it's time to part ways with the Federal Reserve ...

After the European Central Bank released the clearest interest rate cut signal since the beginning of this year, three senior ECB officials collectively "stood up" on Friday, further pushing up the price6Expectations of monthly interest rate cuts.

At the Federal Reserve6After the expected collapse of monthly interest rate cuts, European and American central banks may soon go against their monetary policies.

Three management committee members expressed support6Monthly interest rate reduction! It's time to part ways with the Federal Reserve

On Friday local time, the Executive Committee of the European Central Bank and the President of the Central Bank of LatviaMartins KazaksIn an interview with the media, it was stated that the European Central Bank is expected to6Starting the interest rate reduction process on a monthly basis.

He said:

If inflation does indeed move towards2%Our goal is steadily advancing, so in my opinion, we are very close to the turning point of interest rate cuts. If there are no accidents,6The month will be the first time interest rates will be lowered.

Kazaksexpress,6The pace of interest rate cuts after the month will be adjusted based on economic data. If inflation continues to decline, the European Central Bank can continue to lower interest rates.

Interest rate cuts are imminent,This is undoubtedly good news for businesses and the public.

KazaksAt the time of this statement, the Governor of the Greek Central Bank, who is also a member of the European Central Bank's governing committeeYannis StournarasThe European Central Bank should not be afraid of being too cautious in adjusting interest rate policy, which is completely different from the recent attitude of the Federal Reserve.

On Friday local time,StournarasIn his speech in Frankfurt, he reiterated that the European Central Bank may cut interest rates four times this year.

Now is the time to adopt a different strategy from the Federal Reserve.The situation between the eurozone and the United States is vastly different.
The demand in the United States is much stronger, mainly due to the strong driving force brought by fiscal stimulus, while Europe does not have such conditions. The inflation problem in the eurozone mainly originates from the supply side, not the demand side, and is not related to wage growth.

In addition, on Friday, the European Central Bank Regulatory Commission and the Governor of the Estonian Central BankMadis MullerIt also indicates that the slowdown in inflation has increased6The possibility of monthly interest rate cuts.

After the management committee expressed their attitude, European stocks collectively rose, and the euro fell to last year against the US dollar11The lowest level since the beginning of the month.

Just the day before the three governors made their statements, the European Central Bank decided to hold its fifth consecutive meeting without taking action, but at the same time released the clearest interest rate cut signal so far - cooling inflation will pave the way for its rate cut.

European Central Bank President Lagarde stated at a press conference after Thursday's meeting that,The European Central Bank will not go with the flow and will follow the footsteps of the Federal Reserve step by step. However, she also admitted that with the increasing discussion of the euro/dollar exchange rate approaching parity, in addition to the exchange rate, the US economy can also"Multiple channels"Apply influence to the eurozone.

Lagarde also told the media:

Our decisions are not constrained by the Federal Reserve. But it is undeniable that the US economy is vast and the financial market is extremely developed, so all aspects of the US economic situation will be included in our forecast considerations.

yesStournarasAs for the Eurozone20The predicament of the national economy further highlights the necessity of relaxing monetary policy as soon as possible. Although he still expects a soft landing for the eurozone economy, he warns that,If interest rates are not lowered for a long time, the already fragile economy of the eurozone may be further affected, and inflation rates may even be significantly lower than2%The goal of.

Stournarasexpress:

We have seen the dawn of economic recovery in Europe, and there are similar signs in the German economy. We must not stifle these early signs of economic recovery.

He advocates6Month and7Monthly consecutive interest rate cuts, with two more cuts before the end of the year. However, this viewpoint is presented by the European Central Bank's Executive Committee26There is no consensus among the members yet.

Some hawkish committee members tend to adopt a more cautious pace, fearing that too fast wage growth may lead to a resurgence of inflation. They are more inclined towards every3Reduce interest rates once a month, keeping pace with the release of the European Central Bank's quarterly economic forecast report.