ECB’s Lagarde Says June Economic Baseline Still Guiding Policy

European Central Bank President Christine Lagarde said the governing council continues to use its June baseline economic projections as the reference point for policy deliberations. The outlook, presented after the June meeting, foresees a gradual pickup in growth and a return of inflation to target over the forecast horizon. Lagarde added that officials are monitoring the course of ongoing trade negotiations, indicating that any material change in trade conditions could prompt a reassessment of the projections. She did not signal an immediate shift in interest-rate policy.