(Bloomberg) — The European Central Bank is expected to cut interest rates next month, according to Governing Council member Martins Kazaks.

“Of course there will be a discussion, but my conviction is that, given what is currently happening in the European economy, a further rate cut will have to follow from December,” he said. Monday on the Latvian public channel in a television interview.

The ECB has already cut interest rates three times and is expected to do so again next month. Markets are betting the move could represent a bigger drop of half a point after poor PMI figures released on Friday showed an unexpected contraction in the euro zone’s private sector economy.

However, data released later this week is expected to show inflation rising above the ECB’s 2% target in November.

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