ECB’s Kazimir Says First-Quarter Rate Cut Is ‘Science Fiction’

European Central Bank Governing Council member Peter Kazimir pushed back against market bets on an interest-rate cut as soon as the first quarter of next year.

The Slovak official said he agreed with ECB Executive Board member Isabel Schnabel that “incoming inflation data support the idea that additional tightening won’t be needed,” according to a post on the platform X. “However, expecting a cut in Q1/24 is science fiction.”