(Bloomberg) -- European Central Bank Governing Council member Robert Holzmann said current economic conditions don’t justify cutting interest rates by 50 basis points at December’s meeting — even though some policymakers will probably put that option on the table.
“I saw the change that we had, the cut we had recently as precautionary,” Holzmann told CNBC, saying the choice for December should be between another quarter-point cut and keeping borrowing costs where they are.
“If things really get as bad as some claim, we can have another 25. 50, I would say at the moment with the data, no,” he said.
Holzmann also said:
- “I’m sure some of my colleagues will go for a big cut, others not”
- “I am not so sure that there was so much change in the data because not everything went down”
- READ MORE: ECB’s Centeno Says Bigger Cut May Be on Table in December: CNBC
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