French Finance Minister Le Maire: Eurozone Rates Won’t Be Lowered Yet

French Finance Minister Bruno Le Maire stated today that eurozone interest rates will not be lowered in the near future.

Due to persistent high inflation rates in France and the entire eurozone, a reduction in interest rates is not feasible in the short or medium term, unless price increases reach a reasonable level.

Le Maire noted that higher rates contribute to alleviating inflation, stating, “We must by no means deviate from this path.”

However, he added that any further rate hikes will be determined by the European Central Bank.

Last week, ECB President Lagarde indicated that despite suggestions for central banks globally to reconsider their targets, the ECB’s goal remains achieving 2% inflation.