MNI BRIEF: ECB January Cut Unanimous, No 50Bp Cut Talk-Lagarde

The European Central Bank's decision to cut rates on Thursday was unanimous and interest rates "remain in restrictive territory," President Christine Lagarde said. 

However, while confirming the direction of policy travel was clear, Lagarde said it was "premature" to discuss an end point for rate reductions. Policymakers did not discuss picking up the pace of rate cuts to 50 basis points, she said.

The ECB cut its key interest rate by 25 basis points to 2.75% earlier Thursday, in line with expectations, and said inflation should return sustainably to target this year, with the language in the statement barely changed from December. (See MNI SOURCES: ECB Cuts Consensus, But Trump, Fiscal Risks Ahead