💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Further rates cuts not unlikely - ECB's Orphanides

Published 11/14/2008, 07:35 AM
Updated 11/14/2008, 07:38 AM

FRANKFURT, Nov 14 (Reuters) - European Central Bank Governing Council member Athanasios Orphanides said on Friday that further interest rate cuts from the bank should not be considered unlikely.

"As president Trichet has said, we cannot rule it out and indeed I do not think that a further easing of monetary policy under the circumstances should be considered unlikely," Orphanides said in an interview with Reuters television.

He added that ECB staff forecasts to be published at the start of December would be far more pessimistic on euro zone growth than the previous set, but that the outlook for inflation had improved.

"Today's data indeed reflect what we already knew in the last few months, a deterioration in the real economy. I expect that the forecasts we will see by Eurosystem staff at the beginning of next month... will be much more pessimistic than the previous forecasts," Orphanides said.

(Reporting by Krista Hughes, writing by Marc Jones)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.