Lagarde Does Not See a Recession

The European Central Bank cut rates for the third time this year, by 25 basis points, to 3.25%. In her statement, ECB President Christine Lagarde said that “On the basis of the information that we have, we certainly do not see a recession.” However, “the markets” do not “see” how the Eurozone will avoid a recession, and have bet on an interest rate below 2% by next October, Reuters reports.