ECB's Vujčić says should not rush start of rate cutting cycle

<ul><li>Important for ECB's credibility to be right with rate cuts</li><li>Still quite a lot of resilience in services inflation and wages</li><li>The equilibrium level of interest rates are likely to be higher than it was some years ago</li></ul><p>This is consistent with the main message they are trying to sell now i.e. preaching patience.</p>

This article was written by Justin Low at www.forexlive.com.