FRANKFURT, March 6 (Reuters) – The European Central Bank cut interest rates for the sixth time in nine months on Thursday, sticking to its easing plan in the face of economic upheaval from an unfolding trade war and new plans to boost Europe’s military spending.
Following are highlights of ECB President Christine Lagarde’s comments at a news conference after the policy meeting.
INCREASED UNCERTAINTY
“Uncertainty has increased and is likely to weigh on investment and exports by more than previously expected.”
CONSUMPTION PICK-UP
“Rising household incomes and the robust labour market are supporting a gradual pick up in consumption, although consumer confidence is still fragile and saving rates are still high.”
‘MEANINGFULLY LESS RESTRICTIVE’
“Our monetary policy is becoming meaningfully less restrictive.”
(Reporting by Reuters Global News Desk)
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