European Central Bank's hawkish management committee: Future policies will depend on data. The Federal Reserve is a factor that cannot be ignored. Robert Holzmann, a member of the European Central Bank's management committee and President of the Austrian Central Bank, said that although the European Central Bank announced interest rate cuts this week, it is still too early to judge whether the central bank will continue to cut rates in the future. The European Central Bank announced a 25 basis point interest rate cut on Thursday, becoming the second central bank to relax monetary policy after the Bank of Canada. The three key interest rates of the European Central Bank, namely the refinancing rate, marginal lending rate, and deposit mechanism rate, have been lowered to 4.25%, 4.50%, and 3.75%, respectively.