By Hans Bentzien and Ed FranklThe European Central Bank should act cautiously after its first interest-rate cut in five years, the Bundesbank's president said Monday. "There remains high uncertainty about future economic and price developments," Joachim Nagel said in a speech in Leipzig. Rather I see us on a ridge where we still have to find the right point for the further descent," he said. The ECB made clear at last week's policy meeting that its rate decisions would be data-dependent and decided from meeting to meeting, Nagel added. Write to Hans Bentzien at hans.bentzien@dowjones.com and Ed Frankl at edward.frankl@wsj.com(END) Dow Jones NewswiresJune 10, 2024 06:11 ET (10:11 GMT)Copyright (c) 2024 Dow Jones & Company, Inc.

Source: Wall Street Journal June 10, 2024 10:25 UTC