'We are not Fed-dependent,' ECB chief says on rate cuts
Washington (AFP) - European Central Bank president Christine Lagarde suggested Tuesday that the regulator could lower interest rates before a similar move by the US Federal Reserve, saying "we are not Fed-dependent." Speaking in Washington on the sidelines of spring meetings at the International Monetary Fund, Lagarde said Europe was seeing a "disinflationary process" -- with observers betting on the first rate cut to take place in June. "If we don't have a major shock in development, we are heading toward a moment where we have to moderate the restrictive monetary policy," Lagarde said, witho...