Lagarde: Eurozone inflation is approaching target, exchanged views with Federal Reserve Chairman but did not coordinate.

European Central Bank President Lagarde said that she exchanged views with Federal Reserve Chairman Powell, but there was no coordination. The European Central Bank cut interest rates by 25 basis points in both June and September, a more traditional move compared to the 50 basis point cut by the Federal Reserve last week. Despite a clear slowdown in inflation in the eurozone, with further slowing expected this month, Lagarde has not completely relaxed her vigilance. When asked if inflation had been defeated, Lagarde said, "Not entirely, we are getting close to that target." "Our target is 2%, and we hope to achieve that target." She stated that the eurozone's August CPI year-on-year growth was 2.2%, but "we hope to ensure reaching 2% and maintaining it at that level." She added, "We are very close already."