European Central Bank Vice President: Economic Risks Tend to Be Downward

GoldenOctober2024

2024-10-04 11:22:32

On October 4th, Jin Duo, Vice President of the European Central Bank, said that the overall inflation rate and core inflation rate in the eurozone are moving towards the target of 2%. Prices should stabilize by the end of 2025, but economic data show a tendency to downside risks. Jin Duo told Spanish radio, ‘We cannot declare victory directly.’ The inflation rate fell below 2% last month, and the eurozone is avoiding an economic recession. Therefore, the market has bet that the European Central Bank will have to accelerate the pace of interest rate cuts. The next interest rate cut will be conducted on October 17th.

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