The European Central Bank's Vice President, Luis de Guindos, has highlighted that the overall direction of monetary policy is more important than the extent of interest rate cuts.
He has indicated that the ECB is committed to reducing rates, which signifies a change in its approach to managing economic conditions.
De Guindos has also predicted a slowdown in wage growth for the upcoming year, aligning with the ECB's expectations for consumer price inflation to gradually reach the target of 2%.
This reflects the central bank's ongoing efforts to stabilize the economy and address inflationary pressures.