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European Central Bank
Lagarde believes that the currency bloc's economy will continue to be supported by domestic demand as well as the anticipated increase in exports given the global economic recovery. In the meanwhile, geopolitical developments can turn into drawbacks.
The chairman of the ECB said, "In general, the balance of risks for the forecast of economic growth in the euro area is shifted to the negative side."
By the end of the July meeting, the regulator had maintained the same levels of all three major interest rates. The deposit rate stands at 3.75%, the base lending rate at 4.25%, and the marginal lending rate at 4.5%. According to Lagarde, there was unanimous agreement to maintain the current rate.
The market places an 80% chance on a rate drop in September. Lagarde herself believes that there is still room for a rate drop in September, and the final decision will be based on newly released statistical data.
source: ecb.europa.eu
The chairman of the ECB said, "In general, the balance of risks for the forecast of economic growth in the euro area is shifted to the negative side."
By the end of the July meeting, the regulator had maintained the same levels of all three major interest rates. The deposit rate stands at 3.75%, the base lending rate at 4.25%, and the marginal lending rate at 4.5%. According to Lagarde, there was unanimous agreement to maintain the current rate.
The market places an 80% chance on a rate drop in September. Lagarde herself believes that there is still room for a rate drop in September, and the final decision will be based on newly released statistical data.
source: ecb.europa.eu
