ECB meeting minutes: September is the best time to decide whether to cut interest rates

Odaily Odaily News: The minutes of the European Central Bank's July meeting released on Thursday showed that policymakers were not in a hurry to cut interest rates at last month's meeting, and they believed that September was the next best time to review whether to cut interest rates. The ECB kept interest rates unchanged last month, giving almost no hints about future policy moves, even as investors increasingly bet on policy easing on September 12. The minutes showed: "Gradual easing of policy restrictions is a balancing act, as it is also important to avoid keeping interest rates at restrictive levels for too long and causing excessive damage to the economy." The ECB added: "It is generally believed that the September meeting is a good time to reassess the level of monetary policy restrictions. This meeting should be approached with an open mind." (Jinshi)