MNI BRIEF: A 'Few' Members Wanted Cuts Now-Lagarde
ECB President Christine Lagarde says a few national bank governors were already confident conditions were right for monetary easing.
A "few" members of the ECB's Governing Council were already confident conditions had been met for an easing of monetary policy at Thursday's meeting, but were prepared to join the "overwhelming" consensus to wait for more economic data in June, President Christine Lagarde said Thursday.
Speaking after the ECB kept monetary policy unchanged, but pointed towards an easing of policy restriction perhaps as early as June, Lagarde said some members had been "sufficiently confident" conditions were apt for a cut, but that they "rallied to the consensus".
The ECB earlier pointed to a possible rate cut in June, but kept the deposit rate at 4.0%, with the MLF and refi rate at 4.75% and 4.5% respectively. (See MNI ECB WATCH: ECB Likely To Point To June Cut)