When the European Central Bank's (ECB) Governing Council said earlier in the day that interest rate hikes will begin "some time" after its asset purchase program (APP) ends, "some time" meant "anywhere between a week to several months," ECB President Christine Lagarde explained on Thursday.
The ECB aims to keep "optionality, gradualism and flexibility" with the "some time" comment, she noted at a press conference. The Eurozone's bank will deal with interest rates when it gets there, Lagarde stressed.
The ECB will assess economic projections at its next meeting to determine a more specific date for the APP's end, which is currently expected at some point during the third quarter, she added.
