Another European Central Bank member said a jumbo cut was on the table

Bank of Latvia Governor and European Central Bank Governing Council member Martins Kazaks on Thursday weighed in on the possibility of a jumbo half-point interest rate cut for December.

Asked for his views on a 50-basis rate cut by the ECB at its next meeting, he said that “everything should be on the table.”

“But we will have that discussion in December,” he told CNBC's Karen Soh at the IMF's annual meeting in Washington, DC on Thursday.

“We will have discussions early next year, and from meeting to meeting, as I said, as we approach [inflation] 2% target,” the central banker – who is not usually known for his double vision – added.

His comments came after the ECB cut interest rates for the first time in 13 years at its October meeting. It comes a day after Portuguese central bank chief Mario Centeno made similar comments.

“The truth is that the inflation print in September was very low, much lower than what we were expecting,” Centeno, who is known as a dovish member of the ECB's governing council, told CNBC on Wednesday. Doves prefer low interest rates in an effort to boost economic growth, while hawks are more concerned about inflation and its impact on society.

“We need to get that into our story,” Centeno said of the recent inflation reading. “Next, we have to look at the incoming data, the trends in the data that we're observing and certainly the 50 basis points can be on the table because we're going to be data dependent and the data that we're getting points in that direction.”

The ECB's move earlier this month, which marked the central bank's third quarter-point cut this year, was fully priced in by markets after decision makers identified declining inflation risks and a weak growth outlook.

Kazaks underlined that the bank is “still in a fairly restricted area.”

“So depressing the rate, of course, is what we have to do, and that's what we will do. But of course, you know, we have to look at the data,” he added.

Inflation in the euro zone was recently revised to 1.7% in September, below the previous official estimate of 1.8%. This compares with a 2.2% print in August.

September was the first month in which inflation in the euro zone fell below the ECB's target of 2% from June 2021, ending years of excessive price increases and bolstering expectations of further rate cuts in the near term.