ECB President: No Further Rate Cuts in the Near Future

Spread the love


Inflation in the eurozone is currently on track to reach the 2% target by the end of next year, stated Christine Lagarde in an article for Rheinische Post.

The President of the European Central Bank (ECB), Christine Lagarde, following this week’s monetary policy easing, is downplaying expectations of further interest rate cuts in the near future, according to a report by DPA via TASR.

“Inflation in the eurozone is currently on track to reach the 2% target by the end of next year,” Lagarde stated in the Rheinische Post article.

However, it will take some time to completely eliminate inflation from the economy. Until then, things won’t be smooth. We must be vigilant, determined, and persistent on this path,” said the ECB President.

Therefore, according to Lagarde, “interest rates must remain restrictive for as long as necessary to ensure long-term price stability.” She added that the ECB “needs to keep its foot on the brake a little longer, although not as firmly as before.”

Lagarde indicated that future ECB monetary policy decisions will depend on whether the ECB can achieve a timely return of inflation to the 2% target, whether price pressures in the eurozone economy ease, and whether monetary policy continues to effectively combat inflation: “These factors will determine when it will be time for further easing.”

On Thursday (June 6), the ECB eased monetary policy for the first time in nearly five years by cutting its main interest rates by 25 basis points. The reason for this move is the slowdown in the growth of consumer prices in the eurozone and the improvement in the inflation outlook.

Leave a Reply

Your email address will not be published. Required fields are marked *

SPORT WORLD

Hulk Hogan, Legendary Wrestler and Pop Culture Icon, Dies at 71

Spread the love

Spread the loveThe wrestling community is in deep sorrow after the passing of Hulk Hogan, one of the sport’s most legendary figures. He died at the age of 71 due to cardiac arrest at his home in Florida, as reported by various outlets including TMZ and People. Born on August 11, 1953, Hogan rose to […]

Read More
TECH WORLD

Meta to Ban Political Ads Across EU Platforms Starting October

Spread the love

Spread the loveMeta has made a significant announcement: starting this October, it will prohibit all political advertising across its platforms in the European Union. The company cites legal uncertainties and operational challenges arising from new EU transparency regulations as the driving factors behind this decision. This move, disclosed on Friday, impacts Facebook, Instagram, Threads, and […]

Read More
WORLD

Cyprus Wildfire Under Control After Killing Two and Destroying Dozens of Homes

Spread the love

Spread the loveAuthorities in Cyprus have managed to get a devastating wildfire under control after three days of relentless firefighting efforts in the island’s southern mountainous region. Sadly, the blaze has claimed two lives and destroyed numerous homes, as reported by AFP. Nikos Longinos, the head of the local fire service, shared on Friday that […]

Read More