ECB President's Stance on Bitcoin

During a recent press conference, Christine Lagarde, the President of the European Central Bank (ECB), expressed her confidence that none of the central banks under the ECB's General Council would hold Bitcoin as part of their reserves. Lagarde emphasized the importance of reserves being "liquid, secure, safe, and free from any suspicion of money laundering or other criminal activities."

Interest Rate Cut Speculations Dismissed

Lagarde also addressed speculations regarding a potential 50-point interest rate cut, clarifying that such a measure was not considered by the Governing Council. She highlighted the persistent elevation in services inflation, attributing it to the sector's labor-intensive and wage-sensitive nature. However, Lagarde projected a decrease in wages by 2025, which could lead to lower service prices.