Lagarde Signals Potential ECB Interest Rate Cut in Summer Amidst Wage Growth Uncertainty
European Central Bank (ECB) Governor Christine Lagarde suggested on Wednesday that the ECB might implement interest rate cuts in the summer
Christine Lagarde Officially Heads the ECB
World | October 24, 2019, Thursday // 14:01
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European Central Bank Governor Mario Draghi will chair the last meeting in Frankfurt before resigning.
Many analysts expect the subsequent press conference to be rather ceremonial and uncharacteristically emotional for the banker, who will remain in the bank's history with his bid to save the euro "whatever it takes".
After eight years as head of the European Central Bank, Mario Draghi will chair the Governing Council for the last time today. Most analysts do not expect to make key decisions about Frankfurt's policy, but rather technical ones.
It is unclear how long the reopening of the quantitative easing program will continue.
The program ended at the end of last year and raised 2.6 trillion euros in inflation close to two percent. It has not been achieved, but according to program supporters - stimulating the economy has a clear effect on employment growth, for example.
Negative interest rates will also remain part of Draghi's rule, and this is one of Frankfurt's most controversial policies under his leadership.
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