European Central Bank Management Committee: US tariffs drag down economic growth, further interest rate cuts needed

BlockBeats News: On May 9th, European Central Bank Managing Director Simkus stated that as the eurozone economy has not yet felt the full impact of US tariffs, inflation is expected to continue to slow down, but the European Central Bank must further lower interest rates. He stated that although economic activity initially performed well, recent geopolitical trends, including US President Trump's trade threats, are bad news. At the same time, he saw 'obvious anti inflationary forces' at work. He said, 'For me, the decision in June is very clear and we need to cut interest rates again.' He said, 'It's possible to cut interest rates again after June,' although the timing is still unclear. Since June last year, the European Central Bank has cut interest rates seven times, and officials have stated that they are prepared to take more measures as US tariffs threaten economic growth. (Golden Ten)