Lagarde’s comments come after a week of dismal economic data for the Euro zone, as splits emerge among European central bankers.
European Central Bank President Christine Lagarde stayed out of the debate over whether the ECB should lift interest rates for a 10th straight time next month — even as some of her hawkish colleagues are trying to nix talk of holding fire.
Lagarde’s restraint in laying out a clear path for the coming months contrasts with her predecessor, Mario Draghi. His 2014 Jackson Hole speech put the ECB on course to embark on quantitative easing the following year.The former head of the International Monetary Fund has been at the ECB’s helm for almost four years, nearing the halfway point in her term.
But, despite the darkening economic outlook, Bundesbank President Joachim Nagel gave his clearest signal in weeks on his stance, telling Bloomberg TV late Thursday that it’s premature to consider a pause in rate hikes with inflation still elevated. Some were more cautious. Portugal’s Mario Centeno stressed that downside risks to the economy flagged in recent months are now materializing.
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