ECB Official Kazimir: No Rate Cut Expected in September Unless Severe Economic Downturn Appears

ECB Management Committee member Peter Kazimir stated that, unless there is evidence of severe economic deterioration, there should be no rate cut in September.

He stated on Monday that the interest rate remained unchanged at 2%, allowing the ECB to "comfortably" monitor trade uncertainty. The US-EU agreement is a "good news," but it does not mean that the eurozone economy has completely eliminated obstacles.

Kazimir wrote in an op-ed article on the Slovak National Bank's website, "I don't expect any major events to occur that would prompt me to take action as early as September, unless labor market collapse signs become obvious."

He added that the ECB "will not pre-commit future rate paths," because "it's foolish" in such a volatile environment.