European Central Bank president Christine Lagarde has come closer than ever to claiming victory in the fight against inflation, saying “the darkest days of winter look to be behind us” and that further interest rate cuts were likely.
“The direction of travel is clear and we expect to lower interest rates further,” Lagarde said in Vilnius on Monday.
Lagarde’s remarks are likely to bolster financial markets’ expectations of more ECB cuts. Investors have already been pricing in a series of back-to-back moves in the benchmark deposit rate over the first half of 2025 on signs of weak growth and diminishing price pressures.
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