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Lagarde Does Not Commit To Rate Cut Pace/Magnitude

ECB

Q: Will it be a gradual pace of easing/what constitutes gradual? What do you think of using frozen assets of the Russian central bank to fund the Ukrainian government and their defences?


A: We are still in the holding season, we will move to the restrictiveness season. Once that season is over we will move into normalisation. If that is the definition of gradual so be it. I will not commit to any type of pace, magnitude or rhythm. We will continue to be data dependent.


A: It is a complicated issue with legal ramifications. Ukraine will need more financing, but the sources of that financing need to be agreed and need to respect the international legal environment and be attentive to the international monetary order.

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