Update
The ECB is now "well-positioned" to deal with the uncertain outlook
The ECB lowered the deposit rate to 2.00%. The message accompanying today’s rate cut was not a clear “we are done,” but that was not to be expected given the high uncertainty. Still, President Lagarde was a bit more outspoken than we had expected. All in all, Lagarde did not give any reason to expect another rate cut, unless there is a significant escalation of trade tensions.
