Joachim Nagel, a member of the European Central Bank Governing Council, stressed the importance of a cautious approach to interest rate cuts in light of ongoing economic uncertainty.

Nagel, speaking in Frankfurt, emphasized the effectiveness of a strategy that relies on data and urged officials to carefully monitor incoming information before making further decisions.

Nagel stated that a new economic projection in December will provide crucial insights into inflation developments. He advised against hasty rate cuts and emphasized the need for careful consideration in the current economic climate.