Following the European Central Bank’s (ECB) decision to leave the interest rates on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.50%, respectively, Christine Lagarde, President of the ECB, is responding to questions from the press.
Key quotes
“We are very aware of side effects of policy.”
“Side effects are a preoccupation. Negative rates do seem to work.”
“We are not facing a Japanification.”
“Won’t revisit past policy decisions.”
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