The European Central Bank must stay cautious, and last week’s cut in borrowing costs won’t necessarily be followed by further rapid moves, according to President Christine Lagarde. “We’ve made the appropriate decision, but it doesn’t mean interest rates are on a linear declining path,” she said in an interview with leading European newspapers. “There might be periods where we hold rates again.” Euro-zone borrowing costs aren’t on a predetermined trajectory, the president reiterated. “At every step of the way, not only when we have new projections, we will reassess,” she said according to a pre-release by Handelsblatt ... (full story)