ECB advised not to make big interest rate change

The European Central Bank, which makes monetary policy for the eurozone and the European Union, should continue to incrementally cut interest rates and not rush to try to stimulate growth, Bostjan Vasle, one of its policymakers, has told the Reuters news agency.

Vasle, who is in charge of Slovenia's central bank, made the comment after some of his fellow policymakers said the time could be ripe for the bank to make a large, 50-basis-point cut in December, and for it to quickly bring rates down to the level where they can stimulate growth.

He said such thoughts should be kept in check for the moment because there are still lingering uncertainties about inflation.