European Central Bank (ECB) policymaker Robert Holzmann said on Wednesday that he doesn't see a reason to cut key interest rates "too quickly or too strongly," per Reuters.

Meanwhile, ECB policymaker <wbr>Pierre Wunsch argued that costs of keeping a too tight policy for too long seem to outweigh the cost of easing prematurely. "There is room to cut 50 basis points but when will depend on data," Wunsch added.