ECB Can’t Rush Rate Cuts Due to Wages, Services Costs: Muller

By Ott Tammik

Published: July 06, 2024 at 3:49AM EDT

A cyclist rides past the European Central Bank (ECB) headquarters beside the River Main in Frankfurt, Germany, on Thursday, June 17, 2021. European Central Bank Chief Economist Philip Lane signaled that policy makers may not have all the data they need by September to start shifting policy away from the current ultra-loose stance. (Alex Kraus/Bloomberg)

(Bloomberg) -- European Central Bank Governing Council member Madis Muller said officials must be cautious on further monetary loosening as wage gains and service-price growth remain elevated.

“For that reason, we can’t rush with lowering interest rates,” the Estonian official said Saturday in Toosikannu, reiterating earlier comments to Bloomberg.

Read more: ECB Must Be Patient With Further Interest-Rate Cuts, Muller Says

ECB Can’t Rush Rate Cuts Due to Wages, Services Costs: Muller

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