By Hans Bentzien
FRANKFURT (Dow Jones) – The Council of the European Central Bank has, according to the words of the ECB President Christine Lagarde not concerned with interest rate cuts. Lagarde said in the press conference after the ECB Governing Council meeting: “Interest rate cuts were not discussed – not at all.” Lagarde made it clear that there was no connection between the timing of the reduction of PEPP bond holdings and key interest rates. Those decisions were made independently, she said.
The Council had previously decided to leave its interest rates and interest rate guidance unchanged and to begin reducing the bond holdings acquired under the PEPP program from the second half of 2024.
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(END) Dow Jones Newswires
December 14, 2023 09:20 ET (14:20 GMT)