“We have not decided, discussed, or even announced cuts,” Lagarde said in a press conference today.
The European Central Bank raised key interest rates, on Thursday, for the tenth time in a row, by an additional 25 basis points, bringing the interest rate on deposits to 4 percent, which is its highest level since trading in the euro began in 1999, while indicating that the step may be the last in the series. Current session.
This step came despite growing indicators of economic pressure on the twenty countries that use the euro, while the European Central Bank stressed that it expects “inflation to remain high for a very long time.”
In statements that followed the announcement of the decision related to the rate, Lagarde stressed that the rates have now reached levels that would “contribute significantly” to controlling prices that are rising rapidly.
Inflation in the 20-nation single currency club remained unchanged at 5.3 percent in August.
While the bank is expected to stop raising rates at its upcoming meetings, investors are waiting to know the date of the first rate cut.
But Lagarde said on Friday that the bank’s governors “did not decide, discuss, or even utter” a word about a reduction during their meeting.
“It will be up to us to make a decision based on the data,” she told reporters.
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