FRANKFURT, June 6 (Reuters) – The European Central Bank cut borrowing costs from record highs on Thursday, acknowledging progress in its battle against high inflation but also signalling that fight had yet to be won as inflation was set to remain too high until next year.
Following are highlights of ECB President Christine Lagarde’s comments at a news conference after the policy meeting.
WAGE GROWTH
“Forward-looking indicators signal that wage growth will moderate over the course of the year.”
DIMINISHING PRICE PRESSURES
“(Recent data is) confirming the picture of gradually diminishing price pressures.”
SUPPORTIVE EXPORTS
“Stronger exports should also support growth over the coming quarters.
RECOVERY TO CONTINUE
“We expect the economy to continue to recover as higher wages and improved terms of trade push up real incomes.”
(Reuters Global News Desk)
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