ECB President Lagarde (Q&A), asked about the potential for a June rate hike, says she will not confirm whether we are close to Baseline Scenario 1 or 2; but we are certainly are moving away from the baseline
Importance
Level 1
- ECB today made an informed decision with insufficient information
- Had a debate at length
- Hard data is in line with projections, but there is uncertainty; will need to revisit the issues at the next meeting
- Six weeks until next meeting should be sufficient time for the ECB to assess