2024-10-02 23:15:36
Inflation in the countries of the euro zone is slowing down, which gives more reasons for the European Central Bank (ECB) to lower its key interest rates at its meeting in October. This was stated today by the Governor of the Finnish Central Bank, Olli Rehn, who is also a member of the Governing Council of the ECB, BTA reported to Reuters.
“For most of the year, the eurozone economy was out of recession. In recent months, price pressures have eased more than expected, reinforcing the claim that the ECB is lagging behind in its support for the (eurozone – ed.) economy, which is experiencing difficulties,” Olli Rehn points out.
“However, as always, we need to closely monitor the data and carry out a comprehensive analysis before making decisions,” noted the governor of the Finnish central bank. Inflation in the euro area will stabilize at an annual level of 2 percent in 2025, which is the goal of the ECB, Olli Rehn adds.
The European Central Bank raised key interest rates to curb high inflation. However, this has made lending more expensive, which makes it difficult for companies to invest and limits their business development, analysts say.