doubledoublebonuspokerstrategy| European Central Bank Governing Council Wunsch says continued wage pressures require caution

European Central Bank Governing Council Pierre Wunsch said there should be no rush to cut further interest rates following the possible first rate cut in June.doubledoublebonuspokerstrategyHe cited factors such as strong salary growth.

"Wage pressures remain, which has contributed to high inflation in the service sector," the Belgian central bank governor said in an interview published in the Deutsche Handelsblatt newspaper on Tuesday."We should proceed step by step, not too quickly."

He reiterated that following the first two interest rate cuts, the ECB's decision will become more difficult. He rejected consecutive interest rates in June and July, saying "we should avoid committing now to a second rate cut in July."