FRANKFURT (Reuters) – European Central Bank policymakers see an interest rate cut in October as unlikely, barring a major deterioration in the outlook for growth, three sources told Reuters.
The ECB cut borrowing costs again on Thursday and President Christine Lagarde said a “declining path” for rates was “pretty obvious” but “not predetermined” in terms of pace and destination.
Sources speaking to Reuters on condition of anonymity said a move on Oct 17 could not be ruled out but it was not likely because policymakers would not have much new information by then and would rather wait for a new round of projections in December.
One source added that it would take major negative surprises on the growth front for the ECB to lower borrowing costs again at the next meeting.
The ECB declined to comment.
Thursday’s meeting was unusually short and consensual, wrapping up at 0900 GMT rather than one hour or more later as is normally the case, the sources said.
Lagarde said at her news conference earlier on Wednesday that the decision to cut rates was unanimous.
