(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.
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“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:
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“I’m sure some of my colleagues will go for a big cut, others not”
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“I am not so sure that there was so much change in the data because not everything went down”
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READ MORE: ECB’s Centeno Says Bigger Cut May Be on Table in December: CNBC
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