ECB member expects another rate cut

Boris Vujicic, a member of the European Central Bank’s Governing Council, expects the European interest rate to be cut again.

Bloomberg News Agency quoted Vujicic, the governor of the Croatian central bank, as saying, “If the economic data is consistent with our expectations, we will certainly be able to continue cutting interest rates, because our decisions are based on the data.. The trend of expectations indicates a new rate cut.”

In response to a question about the level to which the European interest rate could fall, Vujicic said, “I cannot now say the level to which the interest rate could fall.. This will become clear next year.”

It is noteworthy that the European Central Bank cut its main interest rates four times during the current year, bringing the main interest rate to 3%. Analysts expect the interest rate to continue to be cut by a quarter of a percentage point each time until it reaches 2% by next June.