Lagarde sets out case for ECB rate cut and wider use of OMT

Christine Lagarde

The managing director of the IMF, Christine Lagarde, today told an audience in Dublin that macroeconomic policy should be used to support demand in the European Union (EU) – and said there is room for the European Central Bank (ECB) to cut interest rates further.

Lagarde said the EU should also allow "somewhat higher inflation and wage growth in countries that can afford it", adding that intervention on the demand side is "particularly important for Ireland", whose export-led recovery "can only

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