European Central Bank President Christine Lagarde said policymakers are in no hurry to cut rates further after fresh figures showed the eurozone economy barely expanded in the second quarter. The latest data pointed to growth of just 0.1%, underscoring weak momentum across the 20-nation currency bloc.

Lagarde’s message suggests the ECB is prepared to wait and assess incoming inflation and growth readings before making another move. For households and businesses, the stance points to continued borrowing costs that may stay elevated for longer than some had expected.

The softer growth figures add to concerns about the region’s economic outlook, with demand remaining uneven and recovery efforts fragile. Markets will now watch for the ECB’s next policy signals as officials balance slowing activity against the risk of easing too soon.