European Central Bank policymakers agreed in their meeting late January that it was premature to discuss interest rate cuts now which could derail the return of inflation to the 2 percent target, minutes of the policy session held on January 24-25 showed Thursday. "The risk of cutting policy rates too early was still seen as outweighing that of cutting rates too late," the minutes, which the ECB calls "account" showed.
"Having to reverse course, in the event that economic activity picked up more strongly than expected, wage growth accelerated or renewed inflationary pressures emerged, could entail high reputational costs."
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.