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MNI BRIEF: No Balance Sheet, Rate Cut Talk In Athens -Lagarde

(MNI) London

The European Central Bank's Governing Council did not discuss its balance sheet at itsAthens meeting, or when or whether to cut interest rates, President Christine Lagarde said Thursday.

Lagarde also noted that after 10 consecutive interest rate hikes, now was not the time to think about forward guidance. Policy decisions remain data-driven, she said.

She again expressed concern over the spill-over impact of events in the Middle East, and the risk that oil and gas prices could rise further.

"We are monitoring the situation and we are attentive to consequences on energy prices and the level of confidence," Lagarde said. (MNI POLICY: ECB Saves Look At Balance Sheet Cuts For Late '23)

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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