VILNIUS, Oct 30 (Reuters) – Latest economic data suggests the European Central Bank (ECB) will not need to raise interest rates in December unless there is a major surprise, the Lithuanian central bank governor said on Monday Gediminas Simkus, adding that it was unlikely to start reducing borrowing costs in the first half of 2024.
“Right now, the pattern of economic activity indicates that a rate increase would not be necessary, and I would like to hope so,” he said. “(But) I would be surprised if we had to lower rates in the first half of next year.” (Reporting Andrius Sytas; written by Francesco Canepa in Frankfurt; Blandine Hénault for the French version, edited by Claude Chendjou)
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