10/27/2022, 3:02 PM (Source: TeleTrader)
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ECB's Lagarde: Policy normalization not done yet

European Central Bank (ECB) President Christine Lagarde shared on Thursday, at a press conference, that the normalization of monetary policy is not done yet.

"There is still ground to cover," Lagarde stressed. She reiterated that the ECB is "going to decide the future path and pace of our rate increases on the basis of the data that we have." This will be done meeting by meeting, Lagarde noted.

As the normalization process continues, Lagarde asserted that the central bank is "deliberately turning our back to forward guidance, which is not helpful in the current circumstances given the level of uncertainty that we have."

Baha Breaking News (BBN) / AY