ECB Shouldn’t Commit to Nor Rule Out More Cuts, Nagel Says

The European Central Bank must keep all its options open, given elevated economic uncertainty, and should neither promise nor exclude another cut in interest rates, according to Governing Council member Joachim Nagel.

“It seems fair to say we are in a good position to respond to further developments,” the Bundesbank president said Wednesday in Tuebingen, Germany. “Yet it would be unwise to commit to a certain interest-rate path, to envisage a further step or indeed, to rule it out.”