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Vice President of the European Central Bank, Kintos: The European Central Bank may have more confidence in interest rate cuts in September.
Jinlong, Deputy Governor of the European Central Bank, said in an interview with the European News Agency on July 23 that the bank will wait for more detailed data before cutting interest rates. Earlier this month, the European Central Bank maintained the benchmark interest rate unchanged at the last meeting. "We decided to keep the interest rate unchanged because we will obtain more information in September, especially new macroeconomic forecasts, so we will be able to better reassess the monetary policy stance," Jinlong said. He added that although the eurozone inflation rate is close to the European Central Bank's target of 2%, there is still a great deal of uncertainty at present. Wage data and new employee forecasts are crucial for determining whether inflation is moving closer to the target. "From a data perspective, it is easier to make decisions in September than in July," Jinlong said.