Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to leave the key interest rates unchanged in April and responds to questions from the press.
Christine Lagarde, President of the European Central Bank , explains the ECB 's decision to leave the key interest rates unchanged in April and responds to questions from the press. Key quotes Inflation decline won't be linear. Won't wait until each item in inflation is back at 2%. Attentive to evolution of oil prices. Observing a decline of inflation, progressing disinflation. Comforting that monetary policy is contributing to disinflation.
Local banks will adjust their savings and lending rates accordingly, which in turn will make it either harder or easier for people to earn on their savings or for companies to take out loans and make investments in their businesses. When the central bank hikes interest rates substantially, this is called monetary tightening. When it is cutting its benchmark rate, it is called monetary easing. Who decides on monetary policy and interest rates? A central bank is often politically independent.
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