ICYMI: European Central Bank President Lagarde emphasizes again decisions data dependent

Justin had the headlines from Lagarde:

• ECB’s Lagarde says cannot commit to rate path even after first cut

In a nutshell Lagarde was barely wavering on a June rate cut, saying that the data flow ahead means “we will know a bit more by April, and a lot
more by June”. Lagarde didn’t firmly commit, of course, but went a little soft with “our
decisions will have to remain data dependent and
meeting-by-meeting…this implies that, even after the first
rate cut, we cannot pre-commit to a particular rate path”.

Check out Justin’s post linked above for more. EUR didn’t move a lot on Lagardge, it waited until the FOMC and Powell then rose strongly against the dollar.

This article was written by Eamonn Sheridan at www.forexlive.com.