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19:58:38 10-06-2024

ECB's Lagarde: Interest rates not on a linear declining path, ECB could hold for longer

European Central Bank (ECB) President Christine Lagarde noted that interest rates aren't hard-locked to a steady path of declines, warning markets that expectations of time-dependent rate cuts isn't helpful to the ECB's goals.

Key highlights

Interest rates are not necessarily on a linear-declining path, there might be periods when we hold.

It is possible ECB will hold rates for longer than a single meeting.

Time-dependent guidance on rates not helpful.

I am keen to see the evolution of labour costs and corporate profits.

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