European Central Bank president appeared to draw a line under series of recent reductions
European Central Bank president Christine Lagarde speaks to media after the governing council’s meeting in Germany yesterday. Photo: Reuters
Eight times in the last year, the governing council of the European Central Bank has met in Frankfurt and decided to cut interest rates by 0.25pc. That sequence may well have come to an end yesterday, however, with its president, Christine Lagarde, saying the eurozone is now well positioned.
“At the current level of interest rates, we believe that we are in a good position to navigate the uncertain conditions that will be coming up,” she told a press conference after the announcement of a further cut of 25 basis points, leaving the main deposit rate at 2pc.
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