The European Central Bank should lower interest rates further but probably won’t need to take them to levels that would stimulate economic expansion, according to Governing Council member Martins Kazaks.

The European Central Bank cut interest rates for the fourth time this year on Thursday, by quarter of a percentage point, and kept the door open to more as growth is hit by political instability at home and the threat of a fresh U.

The European Central Bank is cutting interest rates by a quarter percentage point amid signs of weakening growth and concern about the impact of political chaos in France and the possibility of new U.