European Central Bank president Christine Lagarde said on Thursday that in her view, the ECB's rate-setters should not absolutely lower their guard against inflation. She also noted that the policymakers did not discuss rate cuts at all, adding that between hike and cut there is a whole plateau, a whole beach of hold.
In addition, the ECB's chief pointed out that the policymakers need to see more data on wages. “When we look at the data that we have now, it is not declining,” she admitted.
Lagarde also added that much more data will be available in the first half of 2024 and the ECB needs them to determine if declining inflation is sustainable.