Lagarde Declines to Confirm Rates Are "At Peak"

Q: Is there anything you regret during your time in the role. Should we expect another ECB opinion on bank taxes in Spain?

• A: I have no regrets. We have said these levies should not impair lending and should not damage the solvency of banks. The principles of our assessment to this type of taxation is quite clear.

Q: Can we interpret from today’s meeting that the rate cycle has peaked? Can you give us insight into the debate among the Governing Council this time?

• A: When you reach a decision by unanimity you don’t have a widening of differences of opinion. There was a general well-shared assessment of the current situation. Sometimes inaction is action. A hold can be meaningful.
• I am not going to say ‘we are at peak’. We are data dependent and will assess conditions using our three criteria whether or not our interest rates are delivering sufficiently.

Q&A Concludes.