The ECB sees progress on several fronts but it will still take a long time before inflation is combated. This is what central bank chief Christine Lagarde writes in a debate article in several European newspapers the day after the interest rate cut, according to Bloomberg.
"In other words, we will still have to keep our foot on the brake for a while, even if we don't press it down as hard as before," she writes.
Future decisions depend on three factors. That one continues to approach the inflation target, a general loosening of price pressure and if one still considers that monetary policy is effective against inflation, writes Lagarde.
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US growth
The US jobs are surprising - clearly more than expected
272,000 new jobs were created outside the agricultural sector in the United States in May, which is clearly more than the expected 185,000. The figure is higher than every single estimate by Bloomberg, which is based on 77 forecasts, the news agency writes.
Unemployment landed at 4 percent, compared to 3.9 percent the month before. At the same time, the average hourly wages increased sharply again and landed at 4.1 percent higher at an annual rate. A decrease to 3.9 percent from 4.0 percent in April was expected.
At the same time, the job figure for April is revised down from 175,000 to 165,000.
The figures come less than a week before the Federal Reserve's June meeting.
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