German Central Bank President Nagel: The threshold for the European Central Bank to cut interest rates again is very high.

Joachim Nagel, a member of the European Central Bank's board, stated that in order to lower borrowing costs again, a significant shift in the economic outlook is needed. In an interview, the head of the German central bank said that the eurozone is currently in a "sort of balance" state, with inflation and interest rates both at 2%. He mentioned that after eight interest rate cuts of 25 basis points each, he believes that the European Central Bank does not have many reasons to take further action. "I think the bar is high," Nagel said while attending the annual symposium of the Federal Reserve in Jackson Hole, Wyoming, "So, to convince me to change monetary policy, there needs to be very compelling reasons."