Volker Wieland does not currently consider a rapid succession of interest rate cuts to be appropriate (MNI News)

According to Prof. Volker Wieland, a rapid successive interest rate cuts by the European Central Bank (ECB) are not necessary at present. In an interview with the news agency MNI News ahead of this week's monetary policy meeting of the ECB Governing Council, Wieland said that the question must be asked as to whether it is really so urgent to quickly follow up the first interest rate hike in June.

Market observers widely expect the ECB to cut interest rates for the first time at its meeting in June. However, Wieland pointed out that the GDP deflator as a measure of inflation is still above the target of 2 percent. In his opinion, "the level of rates seems to be enough to help inflation coming down". However, "we will have to see where wage settlements and actual wages end up."

MNI News: "ECB may pause after first cut"