---
title: "ECB President Lagarde: I will never say that the European Central Bank has completed interest rate cuts"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/261128640.md"
description: "Investors and analysts generally believe that after eight interest rate cuts within a year, bringing the European Central Bank's deposit rate down to 2%, the rate-cutting cycle may have come to an end. Lagarde recently stated, \"We are prepared to respond just in case. Because even if we are in a good position now, circumstances may still change.\""
datetime: "2025-10-14T20:10:49.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/261128640.md)
  - [en](https://longbridge.com/en/news/261128640.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/261128640.md)
---

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# ECB President Lagarde: I will never say that the European Central Bank has completed interest rate cuts

On Tuesday, European Central Bank President Christine Lagarde stated that although she reiterated that monetary policy and the economy are in good shape, she cannot yet announce that the rate-cutting cycle has ended. When asked by the media whether monetary easing has come to an end, she replied, "I would never say that, because I believe the job of a central bank president never truly ends."

Investors and analysts generally believe that after eight rate cuts within a year, bringing the European Central Bank's deposit rate down to 2%, the rate-cutting cycle may have come to an end. However, some officials still do not want to completely rule out the possibility of further rate cuts, as forecasts indicate that weak growth may lead to inflation falling below target in the coming years. Lagarde stated:

> "We are prepared to respond, just in case. Because even though we are in a good position now, circumstances can still change."
> 
> "So far, we have tamed inflation. We are in a decent position, but we must be ready for any eventualities."

After the Eurozone reached a trade agreement with the United States, uncertainty has significantly eased, and Lagarde noted that the risks of economic expansion are more balanced, while inflation risks are also relatively balanced.

Lagarde and her colleagues have repeatedly stated that they are satisfied with the current monetary policy setting. Policymakers are confident that the current interest rate level is sufficient to achieve the 2% inflation target, despite the Eurozone economy still facing pressures from higher U.S. tariffs and renewed political turmoil in France.

The International Monetary Fund (IMF) believes that persistent high uncertainty and higher tariffs are the main reasons for the weak economic outlook in Europe. The IMF's new forecast released on Tuesday shows that this year, the Eurozone's Gross Domestic Product (GDP) is expected to grow by 1.2%, slightly better than previously expected; growth is projected to be 1.1% in 2026, slightly lower than earlier forecasts.

The IMF's forecast is generally consistent with the European Central Bank's own predictions, and the European Central Bank will update relevant data in December. At that time, discussions about whether to further cut interest rates may heat up again

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