European Central Bank President Christine Lagarde said a rate cut could be on the table in July after fresh data showed the eurozone economy losing momentum. The remarks come as the bloc faces weaker demand and broader signs that growth is running close to flat in the second quarter.

Lagarde’s comments suggest policymakers are weighing support for an economy that has struggled to build momentum after a long period of tight monetary policy. Any move would reflect concern that borrowing costs may now be weighing too heavily on businesses and consumers across the currency union.

The slowdown adds pressure on the ECB as it tries to balance inflation control with the risk of deeper economic weakness. Investors will now watch upcoming data and central bank messaging closely for signs of whether July will bring the first step toward easier policy.