Joachim Nagel, the Managing Director of the European Central Bank and President of the German Central Bank, told reporters at the International Monetary Fund (IMF) annual meeting in Washington that "we believe it is possible to achieve the 2% inflation target earlier than we expected in 2025." The European Central Bank has cut interest rates three times since June, and markets and economists expect further cuts in the future. Nagel warned against speculating on the next steps, stating, "We should not consider further interest rate cuts too hastily @seungsang