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Timing and speed of future ECB interest rate cuts 'uncertain' - Lagarde

The timing and speed of the path of future rate cuts is "very uncertain", according to European Central Bank President Christine Lagarde, after the central bank started lowering borrowing costs from record highs.

Earlier, the ECB cut euro zone interest rates by a quarter of a percent. The widely-expected move will see the interest rate on its main refinancing operations fall from 4.5% to 4.25%.

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