ECB/Patsalides: Rate Cuts Should Be Gradual

Forex - The Central Bank of Cyprus President Christodoulos Patsalides stated that the European Central Bank should gradually lower interest rates, and there might be an opportunity for the next step in policy easing in December. Patsalides mentioned, "As growth in the Eurozone economy has been low for some time, the approach to interest rate cuts should be gradual and data-driven. If the data and new projections coming in December confirm our baseline scenario, there will be room to continue lowering interest rates at a stable pace and magnitude."