The European Central Bank should stop cutting interest rates at every meeting and instead keep its powder dry given an uncertain economic outlook, ECB policymaker Martins Kazaks told Reuters. The ECB cut rates for the seventh time in a row on Thursday to prop up a euro zone economy that was struggling even before erratic U.

The ECB’s rate cuts have drawn the attention of President Trump, who has criticized the more cautious stance of Federal Reserve Chair Jerome Powell.

Looking further forward, the ECB is forecasting an inflation rate of just 1.6 per cent for 2026, meaning it would undershoot its medium-term inflation target of 2 per cent.