ECB needs to accelerate rate cuts – Germany’s Habeck

Germany’s Economy Minister Robert Habeck expressed concerns on Wednesday over the pace of interest rate cuts decided by the European Central Bank (ECB), stating they were coming too slowly. This follows rate reductions in both June and September.

Speaking at a BGA trade association event, Habeck emphasised that Germany has successfully navigated through three-quarters of the economic crisis triggered by Russia’s full-scale war in Ukraine.

The country’s economic recovery remains a critical focus as it continues to deal with ongoing challenges.