欧洲央行管委称降息通道或未结束

Core Viewpoint - The European Central Bank (ECB) may need to consider further interest rate cuts in the coming months due to increasing economic headwinds and downward risks to both growth and inflation, with a focus on maintaining inflation around the 2% medium-term target [1] Economic Conditions - Recent signs of deterioration in the German industrial sector and potential political developments in France could lead to a fiscal consolidation process, which typically implies lower economic growth prospects and suppressed overall demand [1] - Wage growth is slowing, indicating a weakening momentum in the services sector, aligning with the ECB's assessments [1] Monetary Policy Strategy - Following eight previous rate cuts, further action may be necessary, with a strong endorsement of a "risk management" approach to monetary policy to actively manage risks, which are currently skewed to the downside [1] - Several long-time advocates for maintaining accommodative options share the view that the primary risk is not high inflation, but rather the possibility of actual inflation remaining persistently below forecast levels, highlighting the need for policy flexibility and potential additional easing measures [1]