ECB President Christine Lagarde states the central bank cannot commit to further reductions in borrowing costs after a likely first move in June.
ECB President Christine Lagarde says the central bank cannot commit to further reductions in borrowing costs after a likely first move in June. The ECB's decisions will remain data-dependent, meaning it cannot pre-commit to a particular rate path beyond that point, according to Lagarde. The debate is now shifting to how quickly the ECB will unwind its historic campaign of rate hikes and where borrowing costs will ultimately end up.
March 20, 2024
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