ECB Governing Council: ECB interest rate cycle is nearing its end

PANews reported on September 14th that Martin Kocher, the new president of the Austrian National Bank and a member of the ECB's governing council, said in an interview that absent major shocks, the ECB could temporarily maintain interest rates at 2%. "At this point, this interest rate cycle is over, or very close to it," Kocher said. This Thursday, the ECB held interest rates steady at 2% for the second consecutive meeting. Kocher said that "absent significant changes in the data," the rationale for this month's decision will, to some extent, "continue to hold true in future ECB meetings." When asked about his personal stance, Kocher stated that he currently "inclined to remain cautious on monetary policy" and advised against taking excessive risks on inflation.