ECB urged to implement significant interest rate cuts to boost economy

Mario Centeno, a member of the European Central Bank's Governing Council, has stressed the importance of more aggressive interest-rate cuts in response to the lack of a significant economic recovery and increasing risks to the outlook.

In an interview conducted in Washington, Centeno emphasized the need for policymakers to act swiftly to remove constraints on the euro-zone economy. He cautioned that without prompt action to stimulate spending and investment, rising unemployment could hinder any potential growth rebound.

Centeno's remarks underscore the urgency for the ECB to consider deeper cuts to support the struggling economy.

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