ECB ‘unlikely’ to cut rates any further

The ECB will not introduce any further interest rate cuts in view of the improving economic environment, according to the Brussels-based chief economist with ING, Carsten Brzeski.

The Frankfurt-based ECB meets on Thursday for its monthly meeting, with the interest rate at a historically low 0.5%. It is unlikely this will be lowered at the meeting or for the foreseeable future, Mr Brzeski said.

“Since the last rate-setting meeting, the eurozone seems to have been in a kind of permanent good-news flow. Thanks to strong German and French growth, the eurozone finally left the recession and, at the same time, prospects have improved,” he said.