Central Banks
ECB’s Lagarde Says Wage Data Are ‘Critically Important’
- Policymakers have been sending mixed signals on rate cuts
- Markets are fully pricing a quarter-point reduction in April
Christine Lagarde
Photographer: Ben Kilb/BloombergThis article is for subscribers only.
European Central Bank President Christine Lagarde declined to give a timeline for interest-rate cuts but emphasized that wage data will be vital in deciding when to begin monetary easing.
The comments suggest a first reduction in borrowing costs will only be feasible toward mid-2024 — later than the April meeting that markets are fully pricing.