European Central Bank Committee Member Kazakas: The economy is sluggish, the European Central Bank will have to cut interest rates again in December.

Jinshi data news on November 25th, European Central Bank committee member Kazakas said in a TV interview with the Latvian public broadcasting company on Monday that the European Central Bank should drop the interest rate next month. He said, “There will certainly be discussions, but I firmly believe that given the current situation of the European economy, it is necessary to lower the interest rate again in December.” The European Central Bank has already lowered interest rates three times and is expected to do so again next month. PMI data released last Friday showed an unexpected contraction in the eurozone’s private sector economy, with the market betting that the bank may further cut interest rates by 50 basis points. However, data expected to be released later this week is likely to show that the inflation rate in November will exceed the European Central Bank’s target of 2%.