Klaas Knot is President of De Nederlandsche Bank (DNB) – the central bank of the Netherlands - and thus a European Central Bank (ECB) Governing Council member.
He spoke with Dutch TV programme Nieuwsuur:
"I would expect us to continue to gradually reduce interest rates in the coming time, also in the first half of 2025,"
"I don't expect rates to return to the extremely low levels we saw before the pandemic. They will likely end up on a somewhat more natural level. I don't know where exactly, but somewhere starting with a 2,"
Info via Reuters.
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The European Central Bank cut its deposit rate by 25 basis points to 3.50% earlier in swpt. It began its rate cutting cycle with a 0.25% cut in June.
