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Statement by Christine Lagarde, President of the ECB, at the fiftieth meeting of the International Monetary and Financial Committee
IMF Annual Meetings, 25 October 2024
Introduction
Since our last meeting in April, the global growth outlook has remained broadly unchanged. While global growth is projected to expand at a moderate pace, risks to the outlook have shifted to the downside, reflecting rising economic policy uncertainty against a backdrop of heightened geopolitical tensions. Global headline inflation continues to recede amid falling energy prices, the normalisation of supply conditions and still tight monetary policy.
In October the Governing Council lowered the three key ECB interest rates by 25 basis points. The decision to lower the deposit facility rate – the rate through which it steers the monetary policy stance – reflects the Governing Council’s updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy…