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    ECB's Lagarde: We are not there yet on rate cuts, need more data

    Source Fxstreet
    Jan 31, 2024 00:17

    European Central Bank (ECB) President Christine spoke with CNN on Tuesday. Lagarde did not provide a timeline for interest rate cuts, but emphasised that wage data would be crucial in determining when to start monetary easing. 

    Key quotes

    “We need to be further into the disinflationary process before cutting rates.”

    “The next move will be a cut.”

    “Wage data is critically important.”

    Market reaction

    At the time of writing, the EUR/USD pair is trading higher at 1.0845, adding 0.01% on the day.

    Disclaimer: For information purposes only. Past performance is not indicative of future results.
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