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Yannis Stournaras, a member of the European Central Bank (ECB) Governing Council, emphasized the necessity of initiating rate cuts in the near future.
He dismissed the notion that the ECB should refrain from lowering rates until the Federal Reserve does so, underscoring his disagreement with this perspective in remarks reported by Bloomberg.
Stournaras stressed the importance of ensuring that monetary policy does not become excessively restrictive. He advocated for the implementation of two rate cuts before the summer break, emphasizing the urgency of taking action to support economic stability and growth.
