The president of the European Central Bank reveals that the decision to cut interest at 25 base points was unanimous among the governors and that there was no discussion about the point where the reduction trajectory stops.
At the press conference after the meeting, Christine Lagarde stressed that “by lowering interest today, it has already reduced a total of 125 points for the high level” at which the rates were.
“There was no discussion about whether this decision was appropriate, it was unanimous, all governors supported the decision to cut into 25 points,” said the person in charge, also noting that monetary policy is still “in restrictive territory” and there was no “discussion because it would be premature, on the point where it is necessary to stop. “
Lagarde assured that the governors know “the following direction”, while the rhythm, sequence and magnitude will be depending on the data that the ECB collects in the coming weeks and months.
“For our meeting in March, we will receive the projection of the ECB team and will have two additional inflation data,” he said.
The president of the ECB also highlighted, in justification of this decision, that the economy of the eurozone staged in the 4th quarter and should remain weak in the short term, namely with the industry to contract while the services expand.
Furthermore, Families have not yet been encouraged by salaries to increase consumption, but “the conditions for recovery continue to exist”.
