ECB President Lagarde said on Thursday that the Governing Council unanimously passed the decision to cut interest rates for the third time this year. “I think the decision we made today is a perfect example based on data.” It says that more data will be obtained before the next monetary policy meeting. “We will decide what is the best interest rate, the best speed, and the extent and depth of action to return inflation to the 2% medium-term target. This is the action we will take in December”. He said that no other promises will be made, Lagarde said that inflation expectations still have both upward and downward risks, and that the downside risk is likely to be greater than the upward one. “Our monetary policy is working.”

ECB President Lagarde said on Thursday that the Governing Council unanimously passed the decision to cut interest rates for the third time this year. “I think the decision we made today is a perfect example based on data.” It says that more data will be obtained before the next monetary policy meeting. “We will decide what is the best interest rate, the best speed, and the extent and depth of action to return inflation to the 2% medium-term target. This is the action we will take in December”. He said that no other promises will be made, Lagarde said that inflation expectations still have both upward and downward risks, and that the downside risk is likely to be greater than the upward one. “Our monetary policy is working.”