October 17, 2024 13:09 GMT
MNI BRIEF: Growth Risks Tilted To Downside- Lagarde
Risks in both directions for prices and growth, but growth risks tilted to downside - ECB.
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MNI (LONDON) - Overall risks to economic growth are tilted to the downside, European Central Bank President Christine Lagarde said on Thursday, after the ECB cut rates for a second consecutive meeting and third time this year.
The geopolitical outlook has risks in both directions for inflation, she added, mentioning factors including the conflict in Ukraine. While upside risks to inflation include food cost concerns from weather events, there are also downside risks.
The ECB said policy will continue to be determined on a meeting-by-meeting basis depending on incoming data, but the Governing Council has no pre-determined rate path, Lagarde said. (See RPT-MNI SOURCES: ECB To Keep Meeting-By-Meeting Even After Cut )
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