ECB’s Kazaks and Simkus Sees No Reason to Cut Rates for Now

European Central Bank Governing Council members Martins Kazaks and Gediminas Simkus said interest rates don’t need to be cut further right now, though neither of them ruled out an eventual move.

“At the current moment, inflation is around 2%, economic growth is I’d say weak,” Kazaks, who heads the Latvian central bank, told TV24 on Tuesday. “At the moment there is no reason to lower rates.”