'We Are Not Fed-dependent,' ECB Chief Says On Rate Cuts

Christine Lagarde, president of the European Central Bank, pictured at a press conference in Frankfurt am Main, Germany, on April 11, 2024 (Credit: AFP)

European Central Bank president Christine Lagarde suggested Tuesday that the regulator could lower interest rates before a similar move by the US Federal Reserve, saying "we are not Fed-dependent."

Speaking in Washington on the sidelines of spring meetings at the International Monetary Fund, Lagarde said Europe was seeing a "disinflationary process" -- with observers betting on the first rate cut to take place in June.