ECB Must Be Cautious on Further Interest-Rate Cuts, Muller Says

The European Central Bank can’t rule out further reductions in borrowing costs but must be cautious as there’s no clear need yet to actively support economic growth, according to Governing Council member Madis Muller.

“For me, the starting point is that interest rates are already low enough that they don’t hold back our economic recovery,” the Estonian central-bank chief said Monday in an interview in Tallinn. While it may be justified to ease monetary policy further, “it’s not obvious to me that we should significantly lower rates.”