ECB'S MERSCH SAYS MUST WAIT FOR RECENT RATE CUTS TO TAKE EFFECT BEFORE MORE CUTS
PARIS, Nov 29 - European Central Bank board member Yves Mersch said on Thursday that the bank should wait for the successive interest rate cuts of recent months to have a visible effect before making further reductions.
"It's necessary first of all to wait for the succession of rate cuts to act, without hurrying," Mersch said in an interview with French newspaper L'Agefi.
"The board of the ECB is waiting for a more substantial decline in inflationary pressure," he added.