ECB policymakers put September into rate cut focus
2024.08.22 08:07
(Reuters) – European Central Bank policymaker were in no rush to cut interest rates when they met last month and saw September as the next best opportunity to review whether to dial back policy, the accounts of their July 17-18 meeting showed on Thursday.
The ECB left rates unchanged last month and gave almost no hint about its future policy moves, even as investors were increasingly betting on policy easing on Sept 12.
“A gradual attenuation of policy restriction was a balancing act, as it was also important not to unduly harm the economy by keeping rates at a restrictive level for too long,” the accounts showed.
“The September meeting was widely seen as a good time to re-evaluate the level of monetary policy restriction,” the ECB added. “That meeting should be approached with an open mind”
