2023-07-30 20:59:25
Posted Jul 30, 2023, 10:59 PM
July 30 (Archyde.com) – European Central Bank (ECB) President Christine Lagarde maintained uncertainty over the institution’s future monetary policy decisions, saying in an interview published on the Figaro website on Sunday that a possible break in September would not necessarily be final.
After its meeting last week, the ECB raised rates for the ninth consecutive time, taking its deposit rate to 3.75% – a peak since 2000.
Christine Lagarde then explained at a press conference that the sequence of events was still uncertain, while recalling the central bank’s desire to curb inflation.
If she noted that the ECB is “closer to the goal”, she once more left the door open to different options.
“We will act according to our analysis of these data (…) There may be a further increase in key rates, or perhaps a break” in September, she told Le Figaro.
“A pause, whatever the date, in September or later, would not necessarily be definitive. Inflation must be brought back to its target in a sustainable way”, added the President of the ECB, quoting a “climate of uncertainty”.
Regarding the risks of this monetary tightening campaign for the European economy, Christine Lagarde noted that the figures for gross domestic product (GDP) were “rather encouraging”, especially for France and Germany. “They support our scenario of 0.9% eurozone GDP growth this year,” she said.
(Written by Jean Terzian)
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