The ECB is likely to continue cutting interest rates until at least the first half of 2025, bringing them down to 2% -3%, Klaas Knot, the ECB's governing council and Dutch central bank president, said on Tuesday. "I expect that we will continue to gradually reduce interest rates for some time to come, as well as in the first half of 2025," Knot said. "I don't expect interest rates to return to the very low levels they were before the COVID-19 pandemic. They may end up at a more natural level," he added. "I don't know exactly how much, but probably the first is 2."